Sovereign Capital exits Choice Care Homes for £86m


exit 15_sqUK mid-market private equity firm Sovereign Capital has exited Choice Care Homes to listed investment trust company Caledonia Investments for £86m.

The company provides care homes for adults with learning disabilities and mental disorders in the UK.

Osborne Clarke private equity partner Mark Spinner said, “It’s great to get our first deal for Caledonia under our belt and to be working at a law firm that understands the importance of private equity as part of its overall City offering.”

Sovereign, which invests up to £50m per firm, has completed more than 200 buy and build deals since its launch in 2001.

Back in May Sovereign made a 5.3 times cash multiple and 70 per cent IRR by selling World Class Learning to Baring Private Equity-backed Nord Anglia Education.

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