Tristone Completes Acquisition of Sportfit Support Services Ltd
Tristone Healthcare Ltd has today announced the acquisition of Sportfit Support Services Ltd.
Founded in 2012, Sportfit Support Services turned over £4.5m in it’s last financial year and offers high-end support to 16-19 year olds, alongside an independent living step down programme for post 18 individuals. Sportfit are dedicated to making a difference in the lives of vulnerable young people and over the last 8 years have supported 502 young people with learning disabilities and in vulnerable situations.
Under the terms of the transaction Ashley Vickers, founder and Managing Director, retains a minority shareholding and continues to manage the business.
Tristone founder and CEO, Yannis Loucopoulos, commented “Sportfit is a fantastic business that perfectly aligns with our values and helps us further deliver on our purpose of providing safe, essential care, while enriching lives through education for vulnerable children, young people and adults. It’s an excellent example of our strategy of acquiring profitable social care businesses with a track record of success and a strong management team. We are excited to work with Ashley and his excellent management team to deliver further growth within Sportfit, supporting even more vulnerable young people and delivering outstanding services to Local Authorities. We believe that the skills of Sportfit’s management team, complemented by Tristone’s strategic guidance and investment, will enable Sportfit to continue its growth and delivery of outstanding services”.
The acquisition is one of a number planned this year as Tristone targets revenues of £35m and EBITDA of £7.5m in the next 18 months. The group brings together well-established and profitable social care businesses with a buy, build and hold strategy. The acquisition increases the number of vulnerable young people currently supported by Tristone businesses to 98 with capacity to support 116.