HIG Bayside Capital Europe, the European special situations and capital solutions affiliate of US-based alternative investment firm, HIG Capital, is providing a £90m (US$121m) unitranche term loan Lifeways Group, the UK’s largest provider of high-acuity support services, backed by Fidera Group and Barings.
Lifeways delivers services to over 4,000 service users across approximately 1,100 locations nationwide.
“Lifeways has undergone a significant operational transformation in recent years,” said Andrea Kinkade, CEO of Lifeways. ”This new financing provides a stable and flexible capital structure that will enable us to continue delivering high-quality outcomes for the people we support, expand our supported living and mental health services, and execute our long-term growth strategy across the UK.”
The five-year facility refinances the existing term loan and provides a platform for Lifeways’ next phase of growth.
“Lifeways is a high-quality and resilient provider of essential care services, with a leading market position in a growing and structurally supported sector,” said Mathilde Malezieux, managing director at Bayside. “The company has demonstrated strong EBITDA growth in recent years, underpinned by a successful operational transformation, improved governance, and a clear focus on delivering high-quality outcomes for service users.”
OMERS Private Equity – the private equity arm of OMERS, one of Canada’s largest pension funds, acquired Lifeways from August Equity in 2012 for an undisclosed sum.
Press release: H.I.G. Bayside Capital Europe Completes Refinancing of Lifeways Group | Bayside Capital
