New strategic objectives set for Health and Social Care clinic

Sep 01 2016

Sector:

Health and Social Care

Background:

The Client, a private limited company started by 2 individuals several years
before was involved in very complex care and education of children and young people. Although very successful in terms of growth and market position, one of the 2 original directors had decided that it was time to move on and wanted to leave.

Challenge:

The business was owned and managed by the two main shareholders with several additional angel investors. The various parties could not agree on either appropriate valuation or how best to raise the necessary capital to allow one of the main directors to leave. With a sustained lack of clear directions, the business was beginning to falter and performance was slipping.

Solution:

EFM managed a process which included exploring potential sale opportunities and funding options. Ultimately, all shareholders agreed on a private equity deal with a hurdle valuation and various venture capital houses were selected and briefed by EFM with a comprehensive information Memorandum. Following agreement with VC, a major stumbling issue developed with various bank credit facilities in a structured finance deal.
EFM held more meetings with the existing bank with cashflow projections and managed to negotiate very keen rates on the credit facilities which enhanced the deal.

Benefit:

The Business was completely refinanced through VC and new banking facilities, allowing one of the directors and the angel investors to leave the business and with a restructured board, the company set a path for future growth with new strategic objectives.

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