Business advisory firm Quantuma has advised the shareholders of Hampshire-based specialist supported living services business Acorns (Southern) Ltd, trading as Acorns Health Care, on its sale to Ignite Growth, a UK-based investor. The acquisition will unlock the next phase of Acorns’ growth and forms the first stage in Ignite’s regional growth strategy. The financial terms of the transaction are undisclosed.
Quantuma director Calvin Bond and assistant manager Darra McCarthy-Paul led the sales process for Acorns on behalf of the shareholders. The Quantuma team undertook a strategic marketing process that generated significant interest and ultimately identified Ignite Growth as the preferred bidder.
Founded in 2019 and based in Hampshire, Acorns is a specialist supported living services business providing care for adults who have severe learning disabilities and autism in their own homes. Acorns specialises in looking after some of society’s most vulnerable people in the community rather than in a residential care setting.
Prior to Ignite’s investment, Acorns was owned by its founder and CEO, Sue Vaughan, together with a group of angel investors. Ignite’s investment provides a retirement solution for its founder Sue who will remain a consultant to the business with highly experienced managers of specialist health and social care businesses Cass Palmer and Paul Callander brought in as part of the transaction as CEO and Chairman respectively. All other employees and team members will remain in place and continue to manage the business.
Ignite Growth is an investor focused on supporting the growth of ambitious, fast-growing companies. Ignite plans to work closely with the management team to build the business organically in Hampshire and the surrounding counties through ongoing investment in staff and culture and through partnerships with property providers to source appropriate homes for service users.
Sue Vaughan, Founder of Acorns Healthcare, said:
“Calvin, Darra and the Quantuma team were great to work with and provided excellent support throughout every stage of the process, making a complex process easier and more straightforward for the business and the shareholders. They took the time to fully understand our business and our market and were able to generate significant interest from potential buyers. They were proactive throughout and were instrumental in finding the best home for our business and for getting the deal done. The business is in very good hands and I am very excited about the future for Acorns.”
Forbes Stuart, Partner at Ignite Growth, said:
“Acorns is a clear leader in the provision of care to vulnerable people in Hampshire. Under Sue’s leadership it has become a business with a strong reputation with both commissioners and services users’ families. As well as providing phenomenal care to its services users, Acorns also saves the NHS and Local Authorities considerable sums of money by looking after vulnerable people in the community rather than in an expensive and inappropriate residential care setting.”
Quantuma director Calvin Bond commented:
“The Quantuma team is delighted to have advised the Acorns shareholders on this deal. They have built a terrific business, which has found a great home to continue its journey with the team from Ignite. The transaction delivers continuity for Acorns with a supportive equity partner in Ignite Growth and takes the business forward into its exciting next phase of growth."
The Quantuma team worked alongside Holly Bedford from fellow K3 Capital Group company K3 Tax Advisory who provided tax advice and support, together with BDB Pitmans who provided legal advice.
