Graphite Capital in advanced talks to buy City & County Healthcare Group


hospital corridorUK mid-market firm Graphite Capital is reportedly in late stage talks to acquire City & County Healthcare Group from Sovereign Capital.

The healthcare company could be valued at more than £100m, said Dow Jones, citing two people familiar with the matter.

Sovereign has been following a dual-track sale process, considering both an IPO and an outright sale.

Graphite, which is headquartered in London, recently made a return of 2.3 times from the sale of UK caravan park operator Park Holidays UK for £172m and a 3.5 times return from its exit from Alexander Mann Solutions, which was sold for £260m.

In September this year Graphite closed its eighth fund on £475m and said that it expected to secure more commitments to bring the fundraising total to more than £500m.

The fund, which is the largest vehicle dedicated to investing in UK companies raised in the past five years, will target businesses with an enterprise value of £40m to £150m. It will also back smaller companies with the potential to expand through the roll-out of new sites.

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