LONDON, 11 September 2012: Metric Capital Partners (“MCP”) (the “Firm”), the European private capital group, has announced today the completion of its investment in Kedleston UK (“Kedleston”), a leading UK-based provider of care, education and support services for children with emotional, behavioural and learning disabilities.
Headquartered in London, Kedleston currently operates 9 schools throughout the UK and has a broad offering, providing care and education services for children aged 7 to 18.
The Company was established in 2007 and has developed through acquisitions and expansion of existing sites and currently offers a wide range of services including day, 38-weeks and 52 weeks placements.
MCP’s investment, largely through a credit instrument with equity participation, backs the Management Buy-Out of the business from Lydian Capital, its previous owner. Alcentra invested alongside MCP on this transaction.
Giovanni Miele, Partner of MCP, commented: “We are delighted to be partnering with such an experienced management team. Our focus will be to further develop the business through new school openings and continue turning children’s lives around. This transaction is consistent with our investment philosophy, given the strong downside protection in our investment coupled with the opportunity to generate attractive risk-adjusted returns through our equity ownership”.
Mr. Miele will represent MCP on the Company’s Board of Directors.
John Sinik, Managing Partner of MCP, further commented on the transaction: “We are very pleased with our investment in Kedleston. This transaction maintains the strong momentum for Metric Capital, with three completed investments within six months of our first close. The ongoing macro-economic volatility in Europe, coupled with the challenges facing the banking system, lead us to believe that investment opportunities for Metric will continue to be attractive”.
The investment in Kedleston follows the Firm’s investments in LM Funerals in April 2012 and The Vincent Hotel Group in September 2012.