Buyout (LBO, MBO, MBI) • Healthcare Services

Horizon Capital UK Acquires Southern Cross Healthcare

On August 1, 2002, private equity firm Horizon Capital UK acquired healthcare services company Southern Cross Healthcare for 80M GBP

Acquisition Context
  • This is Horizon Capital UK’s 1st transaction in the Healthcare Services sector.
  • This is Horizon Capital UK’s largest (disclosed) transaction.
  • This is Horizon Capital UK’s 4th transaction in the United Kingdom.
Investment Fate
  • Southern Cross Healthcare was sold to a consortium of financial buyers in 2004 for 2.3B USD.
  • Southern Cross Healthcare went public in 2006.

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M&A Deal Summary

Date August 1, 2002
Target Southern Cross Healthcare
Sector Healthcare Services
Buyer(s) Horizon Capital UK
Deal Type Buyout (LBO, MBO, MBI)
Deal Value 80M GBP

Target Company

Southern Cross Healthcare

Darlington, United Kingdom
Southern Cross Healthcare is a group of care homes across the UK providing elderly care with high standards of care for the elderly & physically challenged.
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Buyer Overview 1

Buyer

Horizon Capital UK

London, United Kingdom

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1999
PE ASSETS 800M GBP
Size Large
Type Sector Agnostic
DESCRIPTION

Horizon Capital UK is a private equity firm that targets investments in middle-market companies valued up to £100 million. The Firm has a preference for UK-headquartered businesses and will consider opportunities in the technology services, software, data/analytics, and business services sectors. Prospective transaction situations include buyouts with potential for consolidation. Horizon Capital UK was formed in 1999 and is based in London, United Kingdom.


Deal Context for Buyer #
Overall 5 of 45
Sector: Healthcare Services 1 of 2
Type: Buyout (LBO, MBO, MBI) 5 of 22
Country: United Kingdom 4 of 41
Year: 2002 1 of 1
Size (of disclosed) 1 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2001-01-01 Asquith Nurseries

Chesham, United Kingdom

Asquith Nurseries Limited was a leading owner and operator of children’s nurseries and pre-schools. The company was one of the best in this space with a wide graphical spread of 65 sites offering 3,000 nursery places and high quality operations underpinned by a strong freehold asset base.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2003-05-01 Leasedrive Velo

Berkshire, United Kingdom

Leasedrive Velo Vehicle Management offers blue chip clients the highest quality bespoke total vehicle management service available. Working in partnership with fleet managers, or delivering a complete outsourced service, Leasedrive Velo provides a range of services including fleet management; contract hire; contract purchase; finance lease; hire purchase; personal contract purchase; plus sale and leaseback. Leasedrive Velo was founded in 1983 and is based in Berkshire, United Kingdom.

Buy £10M