The shareholders of Forge Care Limited, a specialist provider of trauma-informed residential care for children and young people based in the West Midlands, have sold a majority stake to private equity firm Endurance Capital.
Founded by the Miller family, Forge Care delivers therapeutic residential care through its purpose-built campus, The Forge, in Warwickshire. The site comprises four Ofsted-registered children's homes, providing up to 24 placements supported by integrated therapeutic services.
Higgs LLP advised the shareholders on the transaction, with tax advice provided by Edwards and corporate finance advice from Debrett's, led by partner Martin Poole. Debt funding for the transaction was provided by Rand Merchant Bank, the corporate and investment banking division of the FirstRand Group.
The investment will provide Forge Care with additional capital to support its next phase of growth, including the roll out and development of further homes. Gavin and Ryan Miller will continue to play key leadership roles within the business alongside managing director Adam Wells.
Geoff Kettle, Partner in the Corporate team at Higgs LLP, commented: "I'm delighted to have led the Higgs LLP Healthcare team advising the shareholders of Forge Care on securing this majority investment from Endurance Capital. Forge has such ambitious growth plans - it will be exciting to see where this next chapter takes this fantastic business."
Gavin Miller, co-founder of Forge Care, said the team was proud of what had been achieved at The Forge, and that Endurance Capital shared their long-term commitment to that vision, adding that the partnership creates exciting opportunities for the future.
