PARTNER SPOTLIGHT: Close Brothers

Close Brothers is a leading UK merchant banking group offering lending, deposit taking, wealth management services and securities trading. As a FTSE250 company, they employ over 3,000 people, principally in the UK, and are listed on the London Stock Exchange.

Twenty20 Capital is proud to have worked with Close Brothers to conclude a number of pivotal deals, the most recent being that of the Cordant Group, a provider of international workforce based solutions.

Acquisitions, supported by Close Brothers, have contributed to Twenty20 Capital’s phenomenal growth over the last 4 years. Watch the video below to find out more from our very own Tristan Ramus, Chairman and Principal Founder, and Jamie Webb, Chief Investment Officer.

 

 

 

EXIT: CRG Homecare and Allied Healthcare

Twenty20 Capital transfers ownership of homecare services group, CRG Homecare and Allied Healthcare

HCRG (Health Care Resourcing Group), the market-leading recruitment group, has sold its homecare provider businesses CRG Homecare and Allied Healthcare.

HCRG acquired Allied Healthcare in 2018 when it was on the brink of financial collapse. Following a swift turnaround and investment in people, Twenty20 Capital successfully merged Allied with its existing homecare brand (CRG Homecare), focussing on increasing its CQC rating, quality and growing group profitability. Both businesses now have a total revenue of £75m, establishing the group as one of the top five homecare businesses in the UK.

Operating throughout the COVID-19 pandemic, the merger of the two businesses saw care worker hours increase to 80,000 per week. Twenty20 Capital’s core investment philosophy of supporting and augmenting the management team to execute challenging strategic and operational decisions created a highly attractive, scaled and profitable platform in this sector.

HCRG is part of Twenty20 Capital, who agreed the final sale which has created the second largest homecare provider in the country and provided strong returns for management and shareholders.

Ian Munro, group CEO and founder at HCRG, said: “We are delighted to announce the sale of our homecare group (comprising of CRG Homecare and Allied Healthcare). After acquiring Allied Healthcare, we worked closely with the management team and were quickly able to return the business to breakeven trading and successfully raised the CQC rating and drove a plan to merge it with our CRG Homecare business. This increased profitability and allowed us to proudly support the UK community by delivering outstanding care services during the toughest months of the COVID-19 pandemic. This has been a real success story in a challenging market.”

Tristan Ramus, chairman at Twenty20 Capital, said: “Twenty20 Capital is proud to be able to announce the transfer of ownership of our homecare group. Having acquired Allied Healthcare, on the brink of insolvency, the business has been transformed during our period of ownership. The core principles of Twenty20 Capital’s investment philosophy have driven an outstanding shareholder return in under three years. Supporting and augmenting the management team to execute challenging strategic and operational decisions has created a highly attractive, scaled and profitable platform in this highly competitive homecare services market.”