Green Square advises ISP on its sale to Sovereign Capital

2nd May 2014

ISP is the one of the largest independent foster care agencies in the UK with over 300 children in care across seven centres. It offers a unique integrated model of therapeutic foster care, specialist education, contact centres and leaving care. Run by a team of eight, many who were nearing retirement, the time had come to seek a partner who could further assist ISP to develop its holistic care offer.

Sovereign Capital is the most active UK private equity investor in Healthcare Services and has committed around £275m of capital to a diverse range of service-based healthcare businesses providing care for those with learning disabilities, mental health issues or complex needs; residential care and domiciliary care, as well as independent fostering agencies.

In acquiring ISP, Sovereign subsequently launched Partnership In Children’s Services (PICS) comprising ISP, Fosterplus, Orange Grove and Clifford House. Combined, PICS is a business providing care for over 1,100 children of which ISP values have been crucial in forming a steer and best practice.

Green Square acted as advisors to ISP throughout the process.

Ian Butler, Chairman, ISP commented:

Green Square have been fantastic. Their calm determination was as important in winning our confidence as their undoubted expertise. We are not the easiest bunch to work with and we don’t place our trust in anyone lightly. Our faith in them has been more than repaid. They were real stars.

Sheila Patel, Director, ISP commented:

A big thank you to Green Square and Andrew for excellent advice, patience and guidance throughout. Speaking for myself I felt safe when you guys were around and appreciated your honesty and ‘simple explanations’!

Andrew Moss, Green Square Partner commented:

ISP’s core values, expertise, fantastic staff and management provide the best outcomes for children in the sector. This was why it was so highly desired and ultimately formed the cornerstone that would underpin the expansion of the PICS Group. It was a challenge to take the business from the Charity sector through to profit and Private Equity ownership, but the management team, who were a pleasure to work with, saw that its long-term objectives would better be served within a larger Group.

About ISP

ISP is a fostering agency founded in 1987 by a small group of foster carers in Kent who were working with difficult-to-place teenagers. Having recognised the need for an integrated programme of care and specialist services for young people, they set up ISP as an independent organisation.

About Sovereign Capital

Sovereign Capital is a UK private equity ‘buy and build’ specialist. Established in 2001, Sovereign invests in UK based companies in the support services, education and training and healthcare sectors. Its key mantra is to commit up to £50m in each acquisition to increase capacity and facilitate growth. Sovereign has completed over 240 buy and build transactions.