UK-based mid-market PE firm, Livingbridge, is selling its majority stake in Nourish to Hg, an investor in European and transatlantic software and services businesses. Founder, Nuno Almeida, will continue to lead Nourish as CEO and remains a significant shareholder. Livingbridge, which has backed the company since 2022, will retain a minority stake.
Founded in 2011 and headquartered in Bournemouth, UK, Nourish is a UK-based digital social care records platform. Its mission is to deliver ‘Better Care for Everyone’, by helping care teams plan, record, and coordinate care, with the person receiving support at the centre.
“Social and community care is some of the most important work in our society, and carers deserve the very best technology to support them in this work. We are delighted to be backing Nuno and the team at Nourish to continue delivering on that,” said David Issott, partner at Hg.
Hg’s investment will help Nourish continue investing in its product and developing new solutions that improve the customer experience, make carers’ lives easier, and keep human relationships at the heart of high-quality care.
“What changes is our ability to move faster in improving the customer experience,” said Almeida. “Hg’s AI product team will give us a real advantage when building new AI products. We are also delighted to continue our partnership with Livingbridge, who have supported our mission over the past four years.”
With Livingbridge’s support, Nourish has broadened its impact. In September 2023, it acquired CarePlanner and more recently has significantly invested in its AI capabilities.
“Nourish has become a wonderful example of the impact you can deliver when a culture of care and a bold mission are paired with the very best of today’s technology,” said Sanjay Panchal, partner at Livingbridge. “We’re excited to continue our journey with the Nourish team alongside Hg.”
Livingbridge was advised by Arma Partners and Shoosmiths, Hg was advised by Houlihan Lokey and Skadden. Terms of the transaction were not disclosed.
