On behalf of it’s client, Montreux Capital Management (“MCM”), Westfort Advisors led the growth funding strategy and subsequent disposal of their ‘Zero Three Care’ business (“ZTC”); a leading provider of residential care and supported living facilities for adults with learning disabilities, autism and other complex needs.

Over the last 2.5 years, MCM had successfully grown the business through organic development and M&A, achieving 16 sites, with around 100 beds – as well as driving significant operational enhancements. Having realised their return target ahead of underwrite, MCM opted to divest in order to focus on new investments.

Westfort led the sale of ZTC to leading investment manager, Downing LLP, who manage a fund strategy targeting businesses and management teams that deliver high-quality healthcare services in needs-based markets, with clear opportunities for growth.

Oliver Harris, CEO, MCM, commented

“we wish Downing every success, as they take Zero Three Care into its next phase of growth. They are acquiring a truly exceptional business with a strong leadership team and foundations for continued expansion. This marks another successful realisation for Montreux in the specialist care sector demonstrating the firm’s ability to drive operational growth and deliver long term value.”

Richard Herring, Co-Founder, Westfort Advisors, continued

“this transaction delivered an excellent outcome for Montreux, surpassing original ambitions and recognising the strength of what has been built at Zero Three Care. We are equally pleased for Downing, who have acquired a business of real calibre — with talented leadership, robust infrastructure, and the resources in place to achieve institutional scale.”

Torsten Mack, Investment Director, Downing, said:

“Zero Three Care has built a strong reputation for delivering excellent outcomes in specialist care and we are excited to partner with management to support their growth plans. There is significant demand for adult specialist care services across the UK with an undersupply of supported living and residential care units highlighting the need for growing businesses committed to high quality care, such as Zero Three Care.”

The MCM team, led by Oliver Harris (CEO), included Paddy Evans (Investment Director) and Mark Cullen (Group Finance Manager) and was advised by Gowling WLG (legal), in addition to Westfort Advisors.

The Downing deal team, led by Torsten Mack (Investment Director), included Luke Stevenson (Associate Director), Elisabeth Harden (Investment Executive) and George Manolis (Investment Analyst) and was advised by Shoosmiths (legal counsel), Cooper Parry (financial & tax diligence), Mansfield (commercial diligence), Fulcrum (operational diligence), JLL (valuation support), Pinders (property surveys) and Vista Insurance (insurance diligence). Debt finance was provided by Shawbrook Bank.