OLSWANG ON PATHWAY CARE SALE
23 Aug, 2011
Olswang advises on the sale of Pathway Care to Fostering Solutions Limited
Olswang has advised the shareholders of Pathway Care Group Limited, including funds managed by ISIS Equity Partners (“ISIS), on the sale to Fostering Solutions Limited. After a six year investment in the organisation, which saw significant expansion across the UK and involved increasing the foster carer base from 210 to 570, the shareholders have sold the UK’s fourth largest independent fostering agency.
Adam Holloway of ISIS commented:
“This has been a very intensive and rewarding investment. Our approach to supporting growth and reinvesting cashflow has helped to build a quality business that has consistently delivered for all its stakeholders, including customers, staff, foster carers and looked after children. Fostering Solutions shares a similar culture and focus on quality and we hope that the combined business goes from strength to strength.”
Chris Mackie, Corporate partner at Olswang, added: “ISIS is a longstanding client of Olswang and we were delighted to assist them and the other shareholders in the sale of Pathway Care, having worked with them over the past six years. The complex transaction drew upon the skills and knowledge of colleagues across a wide range of practice areas and we are delighted to have completed a deal that will see Fostering Solutions continue the recent successes of Pathway Care.”
Olswang’s team was lead by Corporate partner Chris Mackie, with support from Carsten Greve, Ben Barlow and Caitlin Stickler (Corporate), Lisa Cooke and Jacob Gilkes (Tax), Libby Payne (Employment), Emily Green (Real Estate) and Andrew Campbell (Pensions).