MBO support for East Anglian specialist care provider through ThinCats
ThinCats, leading alternative finance provider to mid-sized SMEs, has supported the MBO by founding shareholder of Specialist Education Services (Holdings) Limited (SES), highly specialist therapeutic residential care and education provider.
Established by Jon Lees and Steve Lord, SES opened its first establishment, Avocet House in Norfolk, providing highly specialised integrated therapeutic residential care and education for young people in 2005. The company was conceived around a passionate conviction that all children, regardless of past difficulties and traumas, have the internal resources to manage successful transitions to independence and educational achievement, given the appropriate support.
Now providing for up to 18 young people from three personalised education and care settings, the company has an outstanding track record in meeting the needs of young people with severe and complex social, emotional and mental health issues, often further complicated by specific learning difficulties.
SES was introduced to ThinCats by RSM Corporate Finance LLP, who advised on the transaction. Legal support for ThinCats was provided by John Hayward at Squire Patton Boggs.
Jon Lees, managing director, SES: “I am delighted to say that this is a very amicable MBO; Steve is ready to retire completely from the business, and I am thrilled to be fully taking up the mantle. We have plans to take the service that we offer further, and this is the next key step in achieving our long-term goals.”
Gary Nutley, senior director, business development, ThinCats: “The service that SES provides for the young people in their care is second to none. Jon has a very impressive knowledge of, and passion for, the sector, and it has been gratifying to work through the MBO with Jon and his team, and to help the company move on to their next chapter.”