CASE STUDY: Bespoke Health & Social Care

The Business:

Established in 2011, Bespoke is one of the UK’s leading providers of complex care at home, with over 50 employees and 620 trained carers. The company manages contracts from 58 of the UK’s clinical groups and has a strong reputation for quality of service.

WestBridge, the highly respected independent private equity house invested £9.6m in the transaction, supported by additional finance from Shawbrook Bank. Yet in the words of WestBridge “without the advice of Carter Schwartz and subsequent appointment of Craig Rushton as Chair, we wouldn’t have got this deal away”. To everyone’s credit, this remained the only healthcare platform to transact during the first lockdown. This is a testament to the resilience of Carter Schwartz during this challenging time.

The Mandates:

Following on from the successful appointment of Craig Rushton into the business as Chair, and as a direct consequence, Carter Schwartz received follow-on mandates at both CEO and COO levels as WestBridge sought to professionalise and systemise Bespoke for the growth story ahead. WestBridge sought to build a leadership team capable of delivering continuity and the right conditions for future exits.

Carter Schwartz again showcased its ability to find the most capable and suitable executives with the appointment of former Glenside and Active Assistance CEO, Christina Walsh, as Chief Operating Officer.

The Process:

With the appointment of the CEO, Carter Schwartz implemented a critical search process that extended far beyond the health and social care arena. Although some investors may see elevated risk in this approach, Carter Schwartz o sets that risk through extensive research and comprehensive interaction with candidates. The company’s longlist included external candidate Adam Lawrence, former Chief Executive at the Royal Mint. Although Adam had experience with private equity, it was his record as a change agent, having driven cultural, operational and commercial transformation to a 1,100 year old organisation, that ultimately sealed his appointment as CEO.

In this 12-month period, Carter Schwartz had advised on the creation of an exceptional leadership team that spanned Chair, COO and CEO. Bespoke has since completed its first acquisition, Team Healthcare Acquisitions (THA).