Shoosmiths advises August Equity on £111m sale

Shoosmiths advises August Equity on £111m sale


Author: Sophie Llewhelin

Shoosmiths has advised the selling shareholders, including August Equity LLP (August Equity) on its £111m sale of Enara Group Limited (Enara) to MITIE Group PLC (MITIE).

The Shoosmiths' team was led by private equity specialist partner Emma Gibson and comprised corporate associate Rachel Reeves. Having advised August Equity on its original investment in Enara, and then on its buy-and-build strategy, Shoosmiths has been integral in the growth of this business.

Enara is one of the UK's market-leading domiciliary care providers and was created to provide a range of critical services, delivered at home or in the community, to enhance people's lives. It concentrates on care for the elderly and has a regional focus on the South of the UK.

Enara was acquired by MITIE, the strategic outsourcing company, on a cash and debt free basis.

Gibson said: "We're delighted to have been so heavily involved in what is evidently a very significant move by our clients.

"Because of our existing relationship with our client, we've been fortunate enough to witness first hand what they have achieved with regards Enara's success throughout the last few years.

"To then be given the opportunity to draw on our legal expertise and commercial experience to help achieve such a fantastic end result for our client is very satisfying indeed."

August Equity's Aatif Hassan said: "We are very proud of what we have achieved with the business. Enara has grown phenomenally in the four years since our initial investment with profits growing 15 fold.

"Emma and the rest of the Shoosmiths' team have been invaluable to the process and we enjoy a great working relationship. Their legal advice is excellent and their commercial awareness second to none, but most importantly they always put the client first."