Bowmark Capital backs management buy-out of Glenside, the UK’s leading independent neurological rehabilitation centre

Glenside was established by Denis and Clare Barry in 1982 as a provider of residential care to the elderly and, in 1996, began providing care and neurological rehabilitation services to people with acquired brain injuries. In 2000, Andrew Norman, who is leading the management buy-out, joined the company to support its growth strategy. Today, Glenside operates 147 specialist care beds from a single site in Wiltshire, comprising a 40-bed intensive rehabilitation hospital and seven long-term care homes, and is the leading independent provider of neurological rehabilitation services in the UK. The company has an excellent reputation for high quality care and a unique care pathway, which commences shortly after a traumatic brain injury and continues through to long-term care provision.

Neurological rehabilitation is a specialist field within the mental healthcare sector and is growing strongly, as doctors and care commissioners increasingly recognise the clinical and economic benefits of early post-trauma intervention and specialist long-term care. Whilst rehabilitation of brain injury patients was historically the preserve of the NHS, purchasers have increasingly recognised the benefits that dedicated private sector providers, such as Glenside, can provide.

Glenside is planning to develop additional long-term care facilities to meet the growing demand for its services across the South of England. To support this strategy, the management team is being supplemented by the appointment as Chairman of David Cole, the former CEO of Castlebeck, a leading provider of residential care to people with complex needs.

Bowmark has invested £25 million to acquire a significant majority shareholding in the company and to fund the roll-out strategy, alongside £10 million of debt provided by RBS Financial Sponsors. Bowmark’s knowledge of the healthcare sector, and its strong track-record in rolling out specialist care facilities, was key to the success of the transaction.