Cardiff-based autism care specialist Orbis Education and Care has acquired a Harrogate-headquartered counterpart.
It has purchased Pembrokeshire Resource Centre, which trades as Bangeston Autism Care Services, for an undisclosed sum. Both businesses specialise in care services for young adults with autism.
The deal has been supported by a multimillion-pound finance package from HSBC.
Orbis will take over the management of Bangeston's four sites across Pembrokeshire in Wales, with plans for further investment into the business, building on the state-of-art services for autism care both companies are renowned for. Bangeston's majority shareholder, Steve Jones, and director of care Sheila Jack will retire and exit from the business.
The acquired business is headquartered in Harrogate and currently employs about 90 staff.
Mike Currier, chief executive of Orbis, said: "We are delighted to have secured the purchase of Pembrokeshire Resource Centre. The business is a great fit for Orbis both strategically and geographically.
"It is very much business as usual for both parties, and we look forward to taking Pembrokeshire Resource Centre forward through planned investments into the business and its employees."
Steve Jones added: "We wanted to put the future of our business in the best hands. We believe that Orbis is ideally placed to ensure that we continue to offer the best autism care and services to young people across Wales, and beyond."
Grant Thornton's Leeds-based corporate finance team of Will Brennand and Harry Gabriel, working with healthcare sector specialist Peter Jennings, advised the shareholders of Pembrokeshire Resource Centre on the sale.
Pembrokeshire Resource Centre was also advised by a team from Clarion led by Jonathan Simms and Rachel Dean. Orbis was advised by Hazlewoods and Blake Morgan.
This article was published in Insider on Tuesday 3rd October 2017.