Cygnet social care expands with acquisition of six-setting in Gloucestershire Group
Specialist business property adviser, Christie & Co, has announced the sale of Stepping Stones Resettlement Unit in Gloucestershire.
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Stepping Stones is one of the leading specialist care providers in the West Country and has been family-run since its inception in 1961. The business looks after up to 86 individuals and specialises in caring for residents with learning difficulties and mental health disorders. The group comprises six individual settings, all located in Gloucestershire.
The group was brought to market to enable retirement.
Following a confidential and targeted sales process with Rob Kinsman and Simon Harvey from Christie & Co, the group has sold to Cygnet, one of the largest independent providers of health and social care services for young people and adults with mental health needs, acquired brain injuries, eating disorders, autism and learning disabilities within the UK. Cygnet operates over 150 services across the UK and is known for its commitment to quality care and innovation.
Dominic Quinlan, whose mother created Stepping Stones over 60 years ago, comments, “It was a very difficult decision to sell Stepping Stones, having been such an integral part of our family for so many years. We are delighted to have sold the homes to such an established and reputable provider as Cygnet Social Care. We wish the staffing team, families, and our residents all the very best and thank them for being on such a memorable journey with us.”
Gareth Williams, CEO of Cygnet Social Care, comments, “The acquisition of such an established group as Stepping Stones represents a key milestone in the growth of our social care division, and we’re excited to bring the group into the Cygnet family. Stepping Stones shares our commitment to high-quality, person-centred care, and we’re delighted to welcome their skilled team into Cygnet and look forward to working with residents, staff, families, and commissioners to ensure a smooth transition.”
Rob Kinsman and Simon Harvey of Christie & Co, comment, “It has been a privilege to act for Stepping Stones in the sale to Cygnet Social Care, and we have no doubt that the business will go from strength to strength under their stewardship.
“Transactional activity in the specialist market remains buoyant, driven by the high bed demand from service users and a stable, long-term income stream.”
Stepping Stones was sold for an undisclosed price.
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For further information on this press release, contact:
Phoebe Hill, Associate Director – Corporate Communications
P: 07540 063 598 or E: phoebe.hill@christie.com
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