Care provider expands with ten-home deal

A Yorkshire care provider has expanded its UK portfolio to 23 homes with the acquisition of a specialist operator in the Midlands and South West.

Harrogate-headquartered Park Blue Homes has bought Flourish Care Holdings for an undisclosed sum, adding ten residential homes to its growing network.

Founded in Gloucestershire in 2017, Flourish provides therapeutic residential care for children and young people with learning disabilities and associated complex needs, including trauma.

Its Ofsted-registered homes are all rated Good or Outstanding, with the family-owned provider employing more than 150 people.

Flourish works alongside local authorities, families and health professionals to provide support in small, family-focused settings.

The deal builds on Park Blue’s 14 years of operating children’s homes and expands a portfolio stretching from the North East to the South West.

Owned by Richard Parker and Ruth Parker-Pollard, Park Blue employs nearly 200 people and already operates homes across South Yorkshire, Newcastle, Sunderland, Bishop Auckland, Swindon, Chippenham and Bath.

Richard said: “We have been looking to increase our therapeutic residential care provision across England, with Flourish sharing the same values, professionalism and commitment to supporting children and young people who have experienced trauma, abuse or other complex life circumstances.”

Corporate finance advisers at Azets supported Park Blue on the acquisition, with the team led by Leeds-based corporate finance partner Tariq Javaid.

Tariq added: “Park Blue is built around providing safe homes and nurturing environments for children, with Flourish matching those same values, including emotional and educational support, structured around a therapeutic care model.

“There are clearly strong synergies between Park Blue and Flourish, hence the deal, and it has been a privilege for Azets to advise our client through the acquisition.”

Clarion provided legal advice to Park Blue, while funding for the transaction was provided by Triodos Bank.

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