Trinity Homecare

Trinity Homecare

We are supporting Trinity Homecare in becoming one of the leading private homecare providers in the UK, with extended coverage in South London and an Outstanding rating from the UK’s care regulatory body, the CQC.

Sector

Healthcare

Date acquired

March 2020

Deal type

Private sale

Website
Status

Unrealised

Location

Surrey, UK

Overview

Trinity is a leading UK private pay home care business providing long-term live-in care across the UK and hourly domiciliary care in London and the Southeast.

Limerston Capital has tracked the homecare market since 2016, given the presence of an attractive macroeconomic backdrop and favourable demographic tailwinds. The market benefits from an increasing desire to receive care at home, a growing prevalence of chronic diseases requiring care, and an increased accessibility via the growing availability of financing options.

We identified a focused management team in Trinity and the opportunity for significant EBITDA growth as a stand-alone business, due to previous underinvestment during Saga’s ownership. Further, the fragmentation exhibited by the UK care market offered an excellent opportunity to pursue a buy-and-build strategy with considerable upside.

Limerston identified Saga’s home care business as an initial platform investment in 2019 and began to build strong relationships with both management and Saga. We approached management following a failed sale process and agreed a Management Buy Out, completing on the carve-out in March 2020.

What we are doing

Since the initial carve-out, we have acquired three businesses which have substantially increased the group’s size and geographic coverage.

The recent addition of Berkeley Home Health in 2021 allowed Trinity to further strengthen its presence in the UK home care sector, whilst more than doubling the group’s EBITDA. Berkeley has been recognised time again for its exceptional care service quality, proven by its Outstanding and Good CQC ratings.

Limerston has worked closely with the management of each of its home care businesses to enact operational improvements, focusing on strategic issues such as marketing strategy and route to market. We have initiated comprehensive reviews of inherited BAU processes and worked to optimise aspects of the customer acquisition funnel, driving material cost reductions and improving conversion rates. We have also launched new online and offline marketing campaigns and upgraded the companies’ websites.

We are committed to providing the best service in the industry and retaining the highest care quality ratings. We, therefore, have and continue to invest significantly in our people and processes, supporting them with market leading technology and systems.

>6,000

Hours of visiting care per week

3

Add-ons - expanding into new geographies

>300

Live-in care packages

About Limerston Capital

Limerston Capital is a private equity firm with over £300 million under management. We target UK businesses valued at £20 - £200 million, partnering with management teams to help build them into industry leaders. 

 

We differentiate by providing strong operational and acquisition support to our companies through our fully-integrated and dedicated operational and investment teams.