Client Sale Press Release – Potens acquires Olive Tree
Wirral based Potens runs a network of Specialist care homes, supported living services, domiciliary care and skill centres, across England, Wales and Northern Ireland.
They acquired Olive Tree, a leading provider of specialist domiciliary care services across the Blackburn and Darwen areas.
Nov 30, 2015
SOCIAL CARE provider Potens has expanded its operations in North West England with the acquisition of Blackburn based Olive Tree Domiciliary Services, in a deal advised by Business Partnership Corporate, Business Brokers based in Northwich, Cheshire.
Olive Tree is a specialist in providing domiciliary care for adults with learning difficulties and has enjoyed substantial growth since being established in 2011.
Birkenhead-based Potens runs a network of 52 services, from Torquay to Newcastle, and said the acquisition – for an undisclosed sum – would provide a valuable expansion to the portfolio and a foothold in the Blackburn area.
Nicki Stadames of Potens said: “in a continuation of our current growth strategy we are delighted to now be part of this acquisition. Olive Tree has been very successful in a short space of time and we were impressed with the high standard of service delivery provided. We are delighted to be adding such an experienced team to our business and we look forward to supporting the service users and families with the same high standards clearly set by Jonathan and Louise Evans. We plan to meet more and more service users and staff over the coming weeks to find out how we can best work together in striding forward”.
Jonathan and Louise Evans confirmed that: “We have had a great few years building Olive Tree and are very grateful to all our staff. It became clear to us however, that in an ever more demanding market, Olive Tree needed more than we could personally provide if it was to continue to grow. We chose Potens because, out of all the buyers found by Business Partnership, they most closely shared our goals for Olive Tree, it’s staff and customers.”
Deal lead, Paul Dodgshon from Business Partnership Corporate, confirmed: “Olive Tree stood out for us as a business. Despite a challenging market, with council funding under pressure and living wage requirements, the business continued to move forward. Jonathan was right, being part of a larger group is vital to continuing the success of Olive Tree. So other offers were turned down and Potens was chosen, because of the match in culture and ambition. This match was vital as Jonathan and Louise wanted to ensure a successful future for everybody involved with Olive Tree.”
All parties would like to acknowledge the expertise and professional assistance provided by the advisors for both sides in concluding a speedy deal:
- Assisting Olive Tree were Barry Dickson, Jackson Brierley Harthen Accountants and Stephen Jarman at Taylors Solicitors
- Assisting Potens were David Main, Hazlewoods Accountants and Jas Singh at CHMT Solicitors