Spring Ventures completes the MBO of Creative Care
Spring Ventures announces that it has completed the MBO of Creative Care Limited, which provides long term residential care for people with Autistic Spectrum Disorders and other complex needs. Based in Nottinghamshire, Creative Care operates out of 5 specialist residential homes, providing care for around 35 people.
Spring Ventures has supported Thelma Turner to acquire the business from founder Richard Wass. Thelma Turner has considerable experience in the sector having worked with a number of specialist care businesses over the past decade, including her own business, Thelma Turner Homes.
Commenting on the deal John Hudson said, ‘we are delighted to have supported Thelma Turner to acquire Creative Care, which has carved out a clear position caring for people with Autistic Spectrum Disorders in the East Midlands. Our funding will be used to extend the high quality of care already provided by Creative Care into new facilities.’
Thelma Turner added, ‘I am excited about working with Spring Ventures and the Creative Care team to take the company into a new growth era. I believe that service quality should drive the bottom line, and am looking forward to maintaining this ethos through the growth of Creative Care.’
John Hudson and Alex Brebbia from Spring Ventures will join the board of Creative Care alongside Thelma Turner, Michael Bryant, who joins as finance director, and Jon Lowe who will become Chairman. The deal was introduced by Mike Quinn of Baker Tilly. Banking was provided by Santander. Coombes Corporate Finance, Connell Consulting, Hazelwoods and Shoosmiths advised Newco.
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