Shoosmiths advises Octopus Investments on investment in to Healthcare and Services Technology Group

Shoosmiths advises Octopus Investments on investment in to Healthcare and Services Technology Group


Author: Kara Shadbolt

National law firm Shoosmiths has advised long-standing client, Octopus Investments ('Octopus'), on their investment in Healthcare and Services Technology Group ('HST').

Alastair Peet

HST are the owners of Care Monitoring 2000 ('CM2000') and Ezitracker - the UK market leaders in the provision of remote workforce management software solutions.

Octopus is a fast-growing UK fund management company with leading positions in several specialist sectors including smaller company investing. It currently manages £5 billion of funds on behalf of retail and institutional clients.

Founded in 1999, CM2000 has become a global supplier of patented, telephony based monitoring, scheduling and management information services to the health and social care sectors. The company's services are used extensively by homecare providers throughout the UK and in the United States, helping them to save money, improve quality of service and win new business. CM2000 is based in Sutton Coldfield and has offices in Glasgow and Clearwater, Florida.

The Group acquired Ezitracker in 2013. Ezitracker provides remote workforce management services to homecare providers, facilities management companies and other organisations that employ large numbers of field-based staff. Ezitracker has offices in Cwmbran in Wales, Australia and New Zealand.

The investment from Octopus will enable HST to deliver sustained investment in new technologies across both businesses and to develop its markets both at home and overseas.
Shoosmiths partner Alastair Peet led the deal with support from senior associate Sarah Thawley and solicitor Rachel Seaton. VCT tax structuring advice was provided by partner Tom Wilde, and banking advice was provided by partner Rebecca Mauleverer and associate Suzanne Love.

Grant Paul-Florence, head of the Intermediate Capital team at Octopus, said: 'Once again, Alastair and the team at Shoosmiths have provided us with exemplary advice on this transaction.
'The management team at HST has built world class businesses which have the potential for significant growth not only in the UK but across a number of other markets, including the U.S.A growing ageing population and the need for better cost efficiencies across the care sector mean that the market opportunity is very exciting. Through this investment we are backing a business that has the opportunity, technologies, ambition and management team to become the global leader in its field.'

Shoosmiths partner Alastair Peet, said: 'We were very pleased to be working with the Octopus team again, to instruct them on this important investment. Our long-standing relationship means we can draw upon our extensive knowledge and experience with the business to deliver a great outcome and we wish Octopus all the best with this new venture.'

Joe Hartman led the deal for Octopus with support from Clara Hansen and both will join the Board.

Shoosmiths' corporate team has advised public and private companies, management teams, investors and debt providers through the business life cycle. Shoosmiths work with businesses from start up and first round finance through to mergers and acquisitions, MBO and MBI transactions, development funding and on exits, by way of sale, listing or private equity investment.

The national corporate team has recently been placed second by deal volume in Experian's UK Deal Review and Advisor League Table.