ORBIS FUNDS DEVELOPMENT OF COMPLEX CARE AUTISM BUSINESS

28th August 2009
ORBIS FUNDS DEVELOPMENT OF COMPLEX CARE AUTISM BUSINESS

Orbis Partners LLP, the Birmingham based corporate financiers, have invested in Homes Caring for Autism Limited through its investment vehicle for a significant minority stake.

HCA is a group of four homes based in Somerset specialising in the residential care for young adults with complex needs arising from autism. The business was founded in 2003 and the opportunity arose to establish two further homes in Taunton which will increase the capacity to 32 service users.

The company has grown on the philosophy that autistic individuals need, and deserve, specialist services, with staff that have a genuine understanding of autism. At the more complex end of the autistic spectrum, general learning disability services rarely meet those criteria. HCA provides high levels of care and community integration delivered by highly trained staff and has a strong reputation with local authorities and social workers across central and southern England.

Richard Smith, Owner and Managing Director, chose Orbis to not only assist in the Taunton development but also as a strategic partner to help position the business for future growth. “Orbis have a strong focus and track record in the healthcare sector and have successfully advised and invested in a number of specialist care businesses.”

A recent survey by the National Autistic Society identified that the number of autistic adults in England wasn’t known, highlighting the inadequacy of the provision of services required. The National Audit Office now estimates that there are approximately half a million people in the UK with some form of autism including over 100,000 children. The cost to the economy is thought to be in the region of £25.5 billion per year, 36% of which is due to lost employment. The government is now committed to developing a national adult autism strategy.

Toby Arrowsmith, Associate Director at Orbis “Richard has successfully grown HCA into a market leading provider of very high end services to young autistic adults. Autism has attracted much needed awareness over the last few years and legislative changes will help drive improved care for individuals and deliver a better quality of life. This will place more reliance on quality businesses such as HCA.”

HCA is banked by The Royal Bank of Scotland (RBS) who introduced Orbis to the business. Robert Griffiths, Senior Corporate Manager at RBS “This was a good outcome for all parties and the equity investment will ensure the company is able to continue with its growth plans.”

HCA is the 26th investment that Orbis has made, backing a strategy of supporting businesses and management teams, with strong market dynamics and a differentiated proposition, to create capital value and realise their potential.
 

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