MARK BEADLE JOINS SPRINGFIELD HEALTHCARE
Springfield Healthcare Group has appointed Mark Beadle to the board of the company as non-executive chairman. Mark was introduced to the group’s chief executive, Graeme Lee, by BGF.
Mark was previously chief operating officer at Priory Healthcare Group, chief executive at Capio Nightingale – which operates the Florence Nightingale Hospital – and managing director at Aitch Care Homes (ACH) which was sold in April 2014. He has a wealth of senior experience in operational roles and private equity backed businesses, deep knowledge and contacts in the healthcare sector, and extensive experience of winning national contracts, creating operational efficiencies and delivering significant revenue improvements.
BGF invested £4.4m growth capital in Springfield Healthcare in June 2012. Since then, the business has completed four acquisitions and opened The Grange, a grade II listed care village in Leeds and a supported living project in Hartlepool. The group employs over 1,200 people in the north of England.
Mark Beadle said: “Springfield Healthcare has a good reputation and strong position within the industry. The Grange has performed well since opening in late 2013. The care village model combined with domiciliary care and supported-living services allows Springfield to offer a tailored, high quality and person-centered journey through care in older age. I’m delighted to be able to provide support to Graeme and the management team as they continue to drive the business forward.”
Graeme Lee, group chief executive, Springfield Healthcare Group said: “Mark’s first-hand experience in the healthcare sector will be incredibly valuable as we continue to implement our strategy. With the help of BGF’s investment, we have been growing the business over the past two years, and we’re excited about fresh ideas and strategic advice that Mark brings to the table.”
Recently, Mark jointly founded The Objectivity Partnership to deliver strategy, due diligence and independent business reviews to the private equity industry focussing on the health and social care sector. He has also been a non-executive director of the board of Svet Zdravia, a Slovakian healthcare company.
Times’ Business Heroes in association with BGF
The UK boasts many of the most innovative and fast-growing businesses in the world. Collaborating with The Times and The Sunday Times, BGF is uncovering some of their stories to salute our British Business Heroes. These are the stories of the business owners and entrepreneurs running successful companies, creating valuable employment and driving the UK economy. Click on the link below to take a look at their video stories and also watch an introduction by Stephen Welton, CEO of BGF.
Other BGF portfolio companies featured include:
Springfield Healthcare opens supported living home in Hartlepool
Care provider Springfield Healthcare has opened a new £800,000 supported living development in Hartlepool, a unique concept designed to enable young adults with learning difficulties to live independently in the community.
The ‘Pathways to Independence, Independent Supported Living Scheme’ facility comprises five, two-bedroom apartments and a further single bedroom apartment, along with a ground floor drop-in centre with a TV area and kitchen facilities, and staff available 24-hours a day. Located close to shops and amenities, it provides a halfway step for young people, preparing them for living independently in the community. The property, the historic Co-operative building on Park Road, is Grade II listed.
The project was backed by growth capital provider, BGF (Business Growth Fund). The funding follows BGF’s initial injection of £4.4 million into two businesses within the Springfield Healthcare Group in 2012: Springfield Homecare and Seacroft Care Village.
BGF is the UK’s leading independent investor of growth capital in UK smaller and medium sized businesses, and is backed by five of the UK’s main banking groups. The company provides long-term equity investment in return for a minority equity stake.
Springfield Healthcare Group, was founded in 1967 and today is one of the largest independent providers of domiciliary care in Yorkshire and Humberside. The business, which began as a specialist provider of dementia care, has expanded in recent years to provide general homecare and training for other care providers. Springfield has also pioneered the care village model. This saw the company open Seacroft, a £5 million development in Leeds last year. Across the Group, Springfield now employs 1,200 staff and provides care to 2,500 people each day.
Graeme Lee, CEO of Springfield Healthcare Group, said: “Our ethos is to keep people living at home independently for as long as possible. The facility offers disabled young adults the freedom to choose their path, while benefiting from comprehensive, market-leading care and support. These young people now have the opportunity to live independently within the community, with their families reassured by the 24/7 care and support that they will receive.
He continued: “Springfield Healthcare has seen exceptional growth during the past two years, and the support that we have received from BGF, both financially and strategically, has contributed significantly. We look forward to the further growth of the business during the coming months, continuing to provide the very best care to our clients.”
Andy Gregory, Regional Director at Business Growth Fund (BGF), said: “Springfield Healthcare continues to lead the market, providing the highest quality care in exceptional facilities. BGF is pleased to have been able to assist the business in delivering its latest facility, and look forward to working with Springfield Healthcare as it continues to expand both its properties and service provision.”
Richard Hunt and Jeremy Thompson of Squire Patton Boggs acted as legal advisers to BGF on its investment in Springfield Healthcare.
BGF-backed Springfield completes Seacroft Grange care village creating 100 jobs
Seacroft Grange care village in Leeds has been completed following a five year renovation project and a £1.9m investment from BGF.
The new care village will create 100 new jobs and transform a once dilapidated historic building overlooking an ancient village green into a new care complex.
The funding formed part of BGF’s overall £4.4m investment in Seacroft Grange owners Springfield Healthcare Group.
The care village offers services including day care, residential and nursing care, as well as private independent living apartments for a wide range of age groups.
The building dates back to 1627 and had been prominent within the local community for many years. For 30 years until the mid-1970s it operated as Seacroft primary school and many of the local residents who attended the school during those years still live locally and will benefit greatly from the services offered and have been great advocates of the project.
Chief executive Graeme Lee said: “Our model helps families make an informed choice earlier in the planning process and then moves with the needs of individuals or couples as their care needs progress, at the same time ensuring long-term consistency where the care team and quality of information are concerned. At the heart of our care village is a Grade II listed building which will be the basis for all our social and community activities and houses a cinema, therapy spa and gym, hair salon and coffee shop that wouldn’t look out of place on the high streets of York or Harrogate.
“As well as exceptional views over the village green, which is mentioned in the Domesday Book, people and families can be seen going about their daily business and, unusually, we have every single community amenity including medical centres, pharmacy, pub, library, church, post office, supermarket and bus station, all within 100 metres.”
Springfield Healthcare Group is the largest independent provider of domiciliary care in Yorkshire and Humberside. It provides care to nearly 2,000 clients each day and employs over 600 people locally.
Second bolt-on acquisition for Springfield
BGF portfolio company Springfield Homecare Services Ltd, part of Springfield Healthcare Group, has announced the acquisition of Helping Hand HCS Limited, based in Selby, North Yorkshire. Springfield Homecare is one of the largest independent providers of domiciliary care in Yorkshire, Humberside and the North East.
Helping Hands represents the second bolt-on acquisition for Springfield following on from the acquisition of Positive Life Choices (PLC), based in Newcastle, in March 2013.
Helping Hands was established in 2004 by the vendor, Denise Chester. The business has established itself as a key provider of domiciliary care services to both local authority and private clients in and around the Selby district.
The acquisition complements Springfield’s existing operations in East Leeds, York and Humberside providing services to an area not previously covered by Springfield. Helping Hands currently provides circa 650 hours of service and employs 30 staff. The acquisition also allows Springfield to enhance its service provision within the North Yorkshire County Council region as well as providing a foothold for consolidation, expansion and in-fill of provision around the South York and Selby regions.
Graeme Lee, founder and CEO of Springfield Healthcare commented:
“I am delighted to announce the acquisition of Helping Hands. This represents our second bolt-on acquisition since we received investment from Business Growth Fund (BGF) in June 2012 and demonstrates the effectiveness of our plan to expand into new regions and establish ourselves further as a main service provider in the Yorkshire, Humberside and the North East region. This acquisition gives us access to a new area within our focus region and provides us with a platform to grow and expand the volume and range of services we can offer.
“The BGF investment and along with support from our bankers, NatWest, have given us the capabilities to identify suitable opportunities, understand vendors’ requirements and invest quickly and professionally, all of which have been demonstrated with both the PLC and Helping Hands acquisitions.”
Richard joined BGF in July 2012 and is based in Leeds. His main role is to identify and successfully execute investments for the fund. He also sits on the board of a number of our portfolio companies.
Richard has 16 years’ experience in small company investing with previous roles at YFM, Octopus Private Equity and Sovereign Capital. He began his career at Deloitte where he qualified as a Chartered Accountant following three years at York University where he studied Economics and Economic History.
He is married with three children and lives in Leeds. At weekends Richard runs a free taxi service for his children around which he fits in time to play, watch and coach the beautiful game that is football.
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