KPMG’s Midlands Corporate Finance team has acted as financial advisor to Independent Community Care Management (ICCM) on the sale of the business to City & County Healthcare (C&C).
ICCM is a Kettering-based provider of complex care to clients in their own homes, providing support to adults and children with acquired brain injury, ventilator requirements, spinal cord injuries and other degenerative disabilities such as multiple sclerosis, motor neurone disease and cerebral palsy.
ICCM was acquired by private equity house Livingbridge in 2011. In 2015, Livingbridge engaged KPMG to advise on the realisation of theinvestment in order to allow ICCM to benefit from being part of a larger healthcare business and the associated access to a greater pool of care professionals.
C&C is a large healthcare group backed by private equity house Graphite Capital. The business is headquartered in Wembley andoperates nationwide. The acquisition of ICCM significantly bolsters C&C’s complex care division, allowing it to add scale to existing operations and to leverage its wider healthcare resources to drive growth.
Matthew Caffrey of Livingbridge commented: “We engaged KPMG to advise ICCM on the next stage in their development. C&C will give ICCM access to a larger infrastructure and a wider resource pool, enabling enhanced growth for the combined business.”
Khush Purewal, partner and head of KPMG’s Corporate Finance practice in the Midlands, said: “ICCM is a quality provider of complex care services that will be a great addition to C&C. This transaction demonstrates that medium term drivers for M&A activity in the healthcare sector remain strong despite obvious short-term headwinds challenging the industry. We expect healthcare M&A activity to continue throughout the year as providers look to acquire geographical or strategic capability in a consolidating market.”
KPMG’s advisory team was made up of Khush Purewal, Andrew Jordan and Katie Hellewell, with consultation support from Andrew Nicholson.
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