Clearwater International advises Sovereign Capital on investment in Nurse Plus


Clearwater International has advised private equity house Sovereign Capital on its acquisition of healthcare recruitment firm Nurse Plus.

Established in 2005, Nurse Plus is a healthcare services provider specialising in homecare for the elderly, as well as providing complex care packages for full-time care and flexible staffing solutions for nursing homes, residential care homes and private hospital establishments.

The Canterbury-based recruitment company provides all workers with induction training sessions and a period of shadowing before they commence work. This has caused strong year-on-year growth due to the increased demand for skilled labour in the healthcare sector.

Following KCP’s initial investment in June 2012, Nurse Plus opened 10 new offices – taking its total network to 35 branches across the UK.

Clearwater International specialises in the healthcare sector having recently advised on the sale of personality disorder specialist Ansel Group to behavioural health service provider Cambian Group. Clearwater International also advised on the sale of Peckforton Pharmaceuticals to Abbey Pharma and on the refinancing of Vanguard Healthcare Solutions.

As part of the deal, Sir Gerry Robinson has joined Nurse Plus as Chairman. Sir Gerry has significant experience of leading companies through periods of growth, most notably at Granada, alongside healthcare knowledge gained from working with the NHS and dementia care homes. The incumbent chairman Stewart Rogers will continue on the board as a non-executive director following the deal.

Clearwater International partner Marcus Archer, head of healthcare Ramesh Jassal and director Karen Edwards advised Sovereign Capital on the deal.

Ramesh Jassal, director and head of healthcare at Clearwater International, said: “Nurse Plus has achieved excellent growth since KCP’s investment in 2012. The secondary buyout backed by Sovereign Capital will enable the business to meet the increasing demand for high-quality homecare services and bespoke staffing solutions for establishments in the UK. Sovereign Capital has an excellent track record in the health and social care space, with previous experience in homecare services having sold City & County Healthcare to Graphite Capital back in December 2013. Nurse Plus has been matched with the right partner to continue its growth strategy.”