Quantuma advises on Acorns’ sale to Ignite Growth

Quantuma has advised the shareholders of Hampshire-based specialist supported living services business Acorns (Southern) Ltd, trading as Acorns Health Care, on its sale to UK-based investor Ignite Growth. 

The acquisition will unlock the next phase of Acorn’s growth and forms the first stage in Ignite’s regional growth strategy. 

Quantuma director Calvin Bond and assistant manager Darra McCarthy-Paul led the sales process for Acorns on behalf of the shareholders. The Quantuma team undertook a strategic marketing process that generated “significant” interest and ultimately identified Ignite Growth as the preferred bidder. 

Regarding the sale, Bond said: “The Quantuma team is delighted to have advised Acorns shareholders on this deal. They have built a terrific business, which has found a great home to continue its journey with the team from Ignite. The transaction delivers continuity for Acorns with a supportive equity partner in Ignite Growth and takes the business forward into its exciting next phase of growth.”

Founded in 2019, Acorns is a specialist supported living services business providing care for adults who have severe learning disabilities and autism. 

Prior to Ignite’s investment, Acorns was owned by its founder and CEO Sue Vaughan with a group of investors. After the investment, Vaughan will remain at the business as a consultant, while Cass Palmer and Paul Callander will become CEO and chairman respectively. All other employees will remain in place. 

Ignite Growth is an investor focused on supporting the growth of “ambitious, fast-growing” companies. The group plans to work with the management team to build the business organically in Hampshire and the surrounding counties through ongoing investment in staff and culture and through partnerships with property providers to source appropriate homes for service users.

Vaughan said: “Calvin, Darra and the Quantuma team were great to work with and provided excellent support throughout every stage of the process, making a complex process easier and more straightforward for the business and the shareholders. 

“They took the time to fully understand our business and our market and were able to generate significant interest from potential buyers. They were proactive throughout and were instrumental in finding the best home for our business and for getting the deal done. The business is in very good hands and I am very excited about the future for Acorns.” 

Forbes Stuart, partner at Ignite Growth, added: “Acorn is a clear leader in the provision of care to vulnerable people in Hampshire. Under Sue’s leadership it has become a business with a strong reputation with both commissioners and service users’ families. 

“As well as providing phenomenal care to its service users, Acorns also saves the NHS and Local Authorities considerable sums of money by looking after vulnerable people in the community rather than in an expensive and inappropriate residential care setting.”