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Trowers & Hamlins advises Cambian on fostering acquisition

Trowers & Hamlins advises Cambian on fostering acquisition

Trowers & Hamlins has advised longstanding client, Cambian Group plc on its acquisition of By the Bridge Group, an independent fostering services provider for £36 million from private equity firm, Apposite Capital LLP.

Operating at the high severity end of fostering, By the Bridge has built a reputation for providing high quality, therapeutic fostering and for being able to place children with complex needs in a family environment. By the Bridge occupies a niche position between traditional fostering and residential care.  As of March this year, it cares for 516 children placed with 349 foster families, mainly in the South of England, the Midlands, Yorkshire and the North West.

Commenting on the acquisition, Saleem Asaria, Cambian's Group Chief Executive Officer, said: "I am delighted with this acquisition which is in line with our strategy to increase our scale in high severity fostering and the geographic range of fostering services we offer to Local Authorities.

Tim Nye, private equity and care specialist at Trowers & Hamlins who led on the transaction, said:     "We are delighted to have worked with Cambian on this transaction as they seek to expand their fostering offering and we are sure the By the Bridge Group will be a key component of this."  Trowers were engaged on all aspects of legal diligence as well as negotiating the acquisition.

Trowers & Hamlins was recently recognised by Laing & Buisson as the leading advisor on Specialist Care at the Laing & Buisson Independent Specialist Care Awards on 11 March 2015.