Investment partner BGF, which sold its minority stake in the group, had invested £2.5m into the business in 2016 to support growth and development plans. Capital was used to drive organic growth through recruitment, marketing and technology.
Founded in 2009, The Good Care Group is a UK provider of live-in care services to consumers, in their homes, who require assistance to live independently, or, have complex care needs.
Following the purchase by Sodexo, chief executive Fiona Lowry and finance director Steve Crowther will step down from their roles and provide consultative support. Managing director Belinda Berkeley and chief operating officer Dominique Kent will remain in the business.
The purchase, for an undisclosed sum, allows Sodexo to expand its homecare services and follows its acquisition of Prestige Nursing + Care in April 2017.
Sodexo Home Care Worldwide chief executive Sarosh Mistry said: ‘Both Sodexo and The Good Care Group share a common mission to help our consumers age in their homes as independently and comfortably as possible. This cultural alignment is key to Sodexo and it is its core values that makes The Good Care Group such a natural fit into Sodexo’s Worldwide Home Care business.’
Lowry said: ‘The Good Care Group mission is to provide the highest quality home care services, enabling people to enjoy staying in their own homes and community for as long as possible. We are proud to have enhanced the quality of life for many consumers in the UK. Now as a part of Sodexo, we have a shared commitment to improving the quality of life of those we serve and expanding the care we can provide.’
The Good Care Group opened its first office in London in 2009, followed by sites in Edinburgh in 2012 and local hubs in Surrey and Kent in 2014. In November 2015, it bought provider Oxford Aunts. It employs 1,050 people.
A KPMG corporate finance team led by Andrew Nicholson, Al-Munther Sultan, Sebastian Cox and Josh Brown advised the provider’s shareholders on the deal.