Tristone Healthcare has announced the acquisition of Beyond Limits (Plymouth) Ltd, marking a strong first quarter for the buy and build social care investment group.
The acquisition of the Plymouth-headquartered provider – which operates across Devon, Cornwall, Somerset, and Dumfries and Galloway – follows the addition of Seaside Care Homes to its portfolio of businesses in February. At the end of 2021, the investor announced it has the backing of £20 million of funding from Duke Royalty, which has supported this latest transaction.
Beyond Limits was founded in 2011 and specialises in supporting people with learning disabilities, mental health issues and other needs. Employing 131 staff and supporting 26 individuals, the provider has achieved an Outstanding rating by the Care Quality Commission (CQC).
Tristone founder and CEO, Yannis Loucopoulos, said: “The quality of care at Beyond Limits is second-to-none and is reflected in its Outstanding CQC rating. The management team operates at the very highest standard and, as such, there was a real meeting of values and vision. It has all the hallmarks of a business we love to invest in – one which is delivering outstanding care and support, has a great management team, clear opportunities for growth and strong financial fundamentals.
“Demand for services in the geographical areas in which Beyond Limits operates is extremely high and we will be supporting the management and staff teams to unlock sustainable growth and value and ultimately positively impact more lives.”
Tristone Healthcare’s strategy is to operate a care-centric community of businesses that focus, first and foremost, on delivering outstanding care and support, while remaining independent, as well as retaining their identity and value base.
Beyond Limits founder and managing director, Doreen Kelly, will retain a shareholding and remain in the business, as part of the deal. Commenting, Doreen Kelly said: “When considering the next stage of our growth journey, it was essential we found an investment partner that was culturally aligned with our business, but equally understood the nuances of the social care sector.
“Being able to demonstrate a passion and drive to protect the professional legacy of Beyond Limits and place outstanding care front and centre, was also key to us. In Tristone, we have found that partner and we’re excited about the growth opportunities that lie ahead, while meeting the rising demand for specialist places for people in need.”
Tristone adds significant value to its community businesses beyond investment through initiatives such as its independent safeguarding board. The board is made up of seven of the industry’s leading figures who are responsible for observing and overseeing care and safeguarding matters for Tristone Healthcare’s community of businesses.