In July 2024, Ocura, a renowned company in the healthcare furniture sector, successfully acquired Carechair, a well-established manufacturer and supplier of care home furniture based in East Yorkshire.
Founded in 1990, Carechair has built a strong reputation over its 33 years in the market by producing high-quality, bespoke furniture that is specifically tailored to meet the needs of care home environments and their residents. Known for their deep understanding of the sector and a commitment to manufacturing durable furniture in their own UK based factory, Carechair’s success is rooted in its customer-centric approach.
Ocura, with over 40 years of experience working in partnership with the NHS and private hospitals, shares a similar ethos of improving healthcare environments. Their mission has always been to listen, understand, and collaborate with healthcare providers to transform patient care. This acquisition represents a strategic alignment of values and objectives between the two companies, further enhancing Ocura’s capabilities in the healthcare furniture market.
The Challenge
Chris Alcock, the owner of Carechair, had dedicated decades of his life to building a successful business. Nearing retirement, he had been contemplating an exit strategy for some time. While he was open to selling the business, he was determined to find a buyer who would prioritise the well-being of the employees and uphold the company’s values. A previous attempt to sell the business fell through when the prospective buyer’s intentions did not align with Carechair’s principles. This experience reinforced the owner’s resolve not to sell to a competitor or to anyone who did not share his commitment to the staff and the integrity of the business.
The Solution
Recognising the complexity of the situation, Chris contacted a couple of sales brokers, but after initial conversations, did not feel that any of them were right for him and his business. He eventually sought the expertise of The MGroup Corporate Finance team, after a recommendation from a fellow business owner.
Geoff Pinder and his team took on the task of facilitating the sale process, starting with an extensive search for potential buyers, and an understanding of the market dynamics. After identifying over 50 potential candidates, the team carefully shortlisted and marketed the opportunity to the most suitable potential acquirers using compelling content.
The Result
The acquisition was successfully completed in July 2024, marking a new chapter for Carechair under the ownership of Ocura. Through careful planning, extensive research, detailed financial analysis, and dedicated support, The MGroup Corporate Finance team was able to facilitate a deal that met the needs of the seller while securing the long-term future of the business and its employees. This deal highlights the importance of choosing the right partner when navigating the complexities of a business sale, ensuring that the values and legacy of the company are preserved.
“I had heard from other business owners that most corporate finance teams tend to step back once the heads of terms are signed, leaving you to navigate the rest alone. However, my experience with Geoff and his team was completely different. They were by my side through every step of the deal process, offering unwavering support from the outset and right up to the final moment. Their dedication was something I didn’t anticipate, and it made a world of difference during such a challenging time.”
Chris Alcock, Carechair
“From our first conversation with Chris, we understood the importance of finding the right strategic buyer for Carechair. Our goal was to ensure a smooth transition that honoured the legacy of the business while securing the future of its employees. We know our inclusive and personalised approach is different than other corporate finance teams and are proud to have been part of this successful transaction. Delivering a successful outcome for the sellers and seeing the future of the business and its people secured, is the true measure of success for the whole team.”
Geoff Pinder, The MGroup Corporate Finance