Benchmark International is pleased to announce that it has completed a transaction between Southampton-based care providers Sportfit Support Services (Sportfit) and Manchester-based buy-and-build company, Tristone Healthcare.
Established in 2010 and incorporated in 2012, Sportfit is a specialist emergency, domiciliary and short break active care provider offering high-end support to 16-19 years olds with developmental delays, backgrounds in abuse and those with family relationship breakdowns. Sportfit offers bespoke plans for service users, providing affordable and active care. With 120 employees, Sportfit supports 502 young people.
Tristone Healthcare, owned by Tristone Capital, is a privately owned buy-and-build company that invests in profitable businesses with enterprise values of up to £20 million, have a good market share and prospects for growth, and are led by managers with both strong commercial and operational judgement.
The acquisition will allow the combined team to support more vulnerable young people and deliver outstanding services to local authorities, said Yannis Loucopoulos, Tristone founder and CEO. The acquisition increases the number of vulnerable young people currently supported by Tristone to 98 with capacity to support 116.
Following the transaction, Managing Director of Sportfit, Ashley Vickers, will continue to manage the business and retains a minority shareholding.
Commenting on the working with Benchmark International, Mr Vickers said:
“Benchmark were outstanding throughout the sale of my business. The process took time but, Benchmark, led by the great efforts of Paul Wilson [and] supported by excellent office staff, Oliver Taylor in particular, meant the deal was completed. My best interests were at the heart of every negotiation throughout, and the intricacies of formulating and completing the deal deserve the highest praise. To say I was impressed with Paul’s efforts, and those of Benchmark, would be a huge understatement. Indebted would be a better description.”
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