Global private equity and venture capital news and research

Sovereign Capital sells Tracscare Group to G Square

9 Jun 2014

OLYMPUS DIGITAL CAMERASovereign Capital has exited its investment in specialist care provider Tracscare Group, which was sold to fellow European private equity firm G Square.

The company provides care to people with mental health, acquired brain injuries, learning disabilities or an autistic spectrum disorder.

During Sovereign’s ownership, Tracscare increased the number of homes it operates to 75 from 21 as the number of users climbed to more than 350 from 130.

The company also expanded from South Wales and the Midlands at the time of investment into South West and eastern England.

Sovereign investment director Rob King said, “When we invested in Tracscare we developed a growth strategy that involved both carefully considered acquisitions and organic growth as we believed that there was increasing demand for the specialist, high-quality care that Tracscare offers.”

Last December Sovereign completed the exit from City & County Healthcare to Graphite Capital.

That deal brought the firm’s average return multiple for the year to 4.4 times.

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