Fantastic outcome for all concerned in Sandcastle Care acquisition

Girl learning to write

We are delighted to announce the successful sale of Sandcastle Care to Waterland Private Equity, in which it assisted the Sandcastle Senior Leadership Team from purchase to sale.

Andrew Feeke and Simon Carruthers led the transaction over 3 years and introduced Waterland to the Sandcastle management team, negotiating the key commercial elements alongside our Transaction Tax team led by Rob Wardle and Alex Hall to ensure the structure adopted was fit for purpose.

Andrew Feeke, Partner commented, “It has been fantastic to see Sandcastle grow over the last few years, always with the knowledge that we were all working with a clear strategic plan.  The choice to always go for the highest quality of care for the young people in Sandcastle’s care from the outset and above any other motivation is key to the culture Darren has engendered at Sandcastle and is something keenly felt by Waterland. With Waterland, I believe Sandcastle have chosen the perfect partner and I can see the business growing exponentially over the next few years.  We will continue to assist the wider Management Team on an ongoing basis and look forward to the next chapter on Sandcastle’s journey.”

Darren Yates, CEO, Sandcastle Care, also added, “I was delighted to have CLB Coopers Corporate Finance team acting alongside me throughout purchase of Sandcastle Care, which started 3 years ago. They provided clear strategic financial advice right from the start and challenged the Senior Leadership Team to ensure the business plan established was not only being adhered to but exceeded.  The growth we have managed to achieve over the last three years has surpassed our expectations and I look forward to building on this over the next three years with our new partners Waterland.

It is thanks to CLB Coopers that we have found a partner of our choice as they introduced Waterland as a potential partner somewhat ahead of our intended schedule. From the initial introductions, it was clear that Waterland understood the sector and wanted a high quality ‘platform’ from which to expand, the perfect match. After that, it was down to negotiating a structure that best suited the shareholders and the ongoing Senior Leadership Team.  CLB Coopers led the negotiations on our behalf and achieved a fantastic outcome for all concerned.”


Official Waterland Statement.

Waterland Private Equity has acquired childcare services provider Sandcastle Care (Sandcastle).

Operating in the North West of England, Sandcastle provides high quality, highly nurturing residential care for some of the most vulnerable children in society. The business has been operating small care homes since 2004, and now offers long term therapeutic care across 18 sites.

Sandcastle operates an ‘in house’, proprietary therapeutic care model, providing tailored and consistent care to over 50 children across Blackpool, Lancaster, Preston and Cumbria.

The deal represents Waterland’s 3rd UK platform investment and its 8th transaction since opening a UK office in 2017. Waterland is a Pan-European private equity house that specialises in buy & build strategies and is investing from its 7th fund, which stands at €2 billion.

Waterland Private Equity was advised by Clearwater International (Corporate Finance), Addleshaw Goddard (Legal), Deloitte (Financial Due Diligence), PwC (Tax), Candesic (Commercial Due Diligence) and GK Strategy (Political Due Diligence). Sandcastle was advised by CLB Coopers (Corporate Finance & Tax) and Shoosmiths (Legal).  External funding was provided by Barclays.

The Waterland team was led by Andy Scaife and Ryan Hallworth with support from Robin Elley. Scaife said “We are delighted to be investing in the Sandcastle Group. We believe the experience of the management team, the superior quality of service delivery and the high quality of care staff set Sandcastle apart from its competition. The Sandcastle future is bright and exciting, and we look forward to supporting the ambitious growth strategy set by the senior leadership team.”

Darren Yates, CEO, Sandcastle Care, also added “Waterland have been a pleasure to deal with and I have been greatly impressed with their absolute determination to maintain the high standards that Sandcastle Care have always been proud of. They have really understood from day one that the quality and level of care we provide is paramount. My senior management team and I are excited about the future and we are all looking forward to working with Waterland and expanding our quality service within the sector.”