Corporate finance specialists from Quantuma provided lead financial advisory services to the management team of Taking Care and LDC on the MBO from AXA Health. The Quantuma team, led by Ian Barton, Richard Hill and Luke Kouloumbrides, advised Taking Care’s management team and LDC, the leading private equity investor, on the management buyout (MBO) from AXA Health (a subsidiary of AXA SA, EPA:CS).
Initially appointed by management, experts from Quantuma ran a discreet process, through which Taking Care’s management team selected LDC, a private equity investor which is part of Lloyds Banking Group, as its preferred investment partner. The Quantuma team then provided comprehensive lead advisory buyside services to deliver the transaction through to completion.
Taking Care is a provider of technology-enabled care products and services. It provides personal alarms, smart home monitoring products and associated monitoring and emergency call response services, enabling elderly people to live safely and independently in their own homes. Founded in 1985, and headquartered in Exeter, the business supports more than 150,000 end customers across the UK. The company has excellent customer ratings and is the exclusive telecare provider to Age Co.
The UK telecare market is expected to continue to grow strongly, driven by an ageing population, more independent living in later life, and greater use of accessible digital technology.
Quantuma’s Corporate Finance experts provided strategic, financial, and commercial guidance throughout the MBO process. The management team selected LDC due to its sector experience, aligned values and ambitions, as well as its capacity to support the next phase of expansion and investment into modern, digital technology-enabled care and new prevention solutions. LDC will also support Taking Care in targeting complementary acquisitions that broaden its range of products and services.
The Quantuma team provided management advice to the MBO team led by Steve Gates and Duncan Worthington, alongside Michelmores, with legal advice led by Richard Cobb and Victoria Miller, and K3 Tax Advisory, with tax advice led by Holly Bedford.
Additionally, the team from Quantuma supported the buyside negotiations, helping to navigate complex deal dynamics within an evolving industry landscape to help deliver the transaction through to completion. They simultaneously managed multiple due diligence streams, including financial, legal, tax, commercial, Go-to-market, operational, insurance and IT DD.
Steve Gates, CEO of Taking Care, said:
“We are delighted to have completed this MBO, working with the leadership team of Taking Care and LDC. Having known Ian Barton for many years, I reached out to him to understand the mechanics of undertaking an MBO from AXA, and we never looked back. From the first meeting a few days later in Exeter with the team, to the closing just before Christmas, Ian, Richard Hill and Luke Kouloumbrides have constantly supported, guided, educated us, driven and led this process, being patient, persistent and welcoming throughout.
Quantuma helped us to seize the opportunity with our shareholders and then identified and negotiated the investment from LDC. They also led the day-to-day project management of the due diligence and execution process with AXA, advisers and LDC.
Their constant advice, management, support and good humour sustained us as a management team throughout the deal, and we couldn’t have completed it without them alongside us.”
Oliver Schofield, Investment Director at LDC, responded:
“An increasing number of older adults are looking for the latest in monitoring technology to support them as they live independently at home and Taking Care’s services have a real positive impact on customers’ lives. We’re excited to partner with Steve and the rest of the management team and to support their ambition to create new digital solutions to meet the needs of the UK’s ageing and increasingly independent population.”
Ian Barton, Managing Director and Head of Quantuma Corporate Finance, added:
“Having known Steve Gates personally for around 20 years, it’s a wonderful affirmation to contribute to delivering on his and his team’s ambitions. Taking Care is well positioned for growth and is a great business with a great team, now backed by a great investor in LDC to drive future growth. Oliver and the LDC team brought real energy to the transaction and their determination to drive the deal forward was key to delivering this deal with AXA.
It was a great way for Quantuma’s Corporate Finance team to round off 2025. Huge thanks to Richard Hill and Luke Kouloumbrides for their tireless work across several months in bringing this to fruition. We look forward to continuing to support the continuing growth journey with Taking Care and LDC.”
This is the second corporate carve-out Quantuma’s Corporate Finance team has secured from a listed company in 2025, following the carve-out of Hepworth Clay by 4D from Orbia Advance Corporation led by Scott Peters and Richard Hill in June 2025.
LDC and Taking Care were supported by a full complement of advisors whose expertise contributed to the successful completion of this transaction. This included teams from Osborne Clarke, BDO, PMSI, Coppett Hill, Collinson Grant, Mactavish and Alvarez & Marsal.
