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Michelmores has advised the management team of Taking Care PPP, part of AXA Health, on its LDC-backed management buyout (MBO).
Taking Care PPP provides personal alarm and monitoring services and operates as part of AXA Health, a leading UK private healthcare provider with over 82 years’ experience. AXA Health supports more than two million people across the UK and employs over 10,000 staff, including clinicians and healthcare professionals, delivering a wide range of healthcare services including wellbeing, counselling, occupational health, rehabilitation and private medical insurance.
The MBO team was led by Steve Gates and Duncan Worthington. Michelmores has acted for the business for several years and was delighted to support the management team on this significant milestone.
The Michelmores team advising on the deal was led by Richard Cobb, Head of the Firm’s Corporate team and the Firm’s Senior Partner. Richard was assisted by Senior Associate, Victoria Miller, Trainee Solicitor Ellis Arnold, Rachael Lloyd (Partner, Employment), Karen Williams (Partner, Banking) Danielle Collett-Bruce (Managing Associate, Banking). Michelmores worked alongside Ian Barton of Quantuma Advisory Limited and K3 Tax Advisory for the MBO team, with Osborne Clarke and Hogan Lovells acting for LDC and AXA Health respectively.
Richard Cobb commented:
“We were pleased to support the management team on this LDC-backed MBO. It was a pleasure to work with Steve, Duncan and the wider team on an important transaction that positions the business brilliantly for its next stage of growth. The management advisory role on a complex PE backed MBO is one that plays to our strengths, particularly where we have a strong relationship with the underlying business.
Steve Gates, on behalf of the management team, added:
“Michelmores has supported the business for a number of years and know it extremely well. Richard and the team’s practical, responsive approach and deep understanding of the transaction were invaluable in guiding us through this MBO and achieving a successful outcome.”
Michelmores’ award-winning Corporate team of specialist lawyers advises clients across the UK, US, and beyond – on capital markets, mergers and acquisitions, management buyouts, impact investing, energy projects, and more. For more information, visit our website.