Hay & Kilner has assisted Danieli Holdings on the sale of one of its subsidiary businesses, Careline Homecare, as part of the group’s ambitious growth plans to create an additional 200 jobs in the region.
Careline, a market-leading domiciliary care provider in the North East, was acquired by national care provider City & County Healthcare Group for an undisclosed sum. Careline will continue to provide high quality “care in the community” for its many elderly and disabled service-users.
Neill Winch, director of the Danieli group, called upon corpoarte finace expert, Mark Adams and employment law specialist, Sarah Furness from Hay & Kilner to cover legal aspects of the sale. He commented:
“Hay & Kilner has consistently provided an excellent service to the Danieli group. We are delighted to be able to expand our operations into the respite care market and to help create jobs for the North East.”
The Danieli group was set up three years ago and has a turnover of around £15m. It includes the Northridge Care and Phoenix Security businesses, as well as business training provider Executive Training Solutions.
Commenting on the share sale, Mark Adams, corporate finance partner said:
“We were delighted to work with Danieli Holdings throughout the sale of Careline. The deal was done in what was ultimately a very tight timescale, but will undoubtedly help the group fund its ambitious and exciting expansion plans. We wish Neill Winch and the directors every success and are sure that Danieli will continue to go from strength to strength.”
Danieli has already embarked on a new venture via its subsidiary, Northridge Care. It has acquired premises in Whitley Bay which, following their development by August this year, will offer a short-break service for adults under the age of 65 who need “around-the-clock” care. Northridge has earmarked another site in Gateshead for its second development and also plans to open a further one in Northumberland. The three facilities are expected to create around 200 care jobs in the region.