Social care and education provider in Skåne finds a new home
“I am delighted with Anecta’s performance”, says Birgitte Ek. “In spite of several unexpected setbacks in the process, Anecta never gave up. Without their help in selling off non-strategic assets and managing a complex DD process, in which they went above and beyond what I understand is the norm, the deal would never have gone through.”
Blichergruppen, located in Teckomatorp, Skåne, comprises an independent school, Blichers Friskola, and a residential care home for young people (an “HVB” home) where the pupils live during the week. Blichers Friskola is a small school with a high staff-to-pupil ratio for pupils who, for various reasons, need extra support to succeed at school and in everyday life. An integrated part of the services provided by Blichergruppen, the HVB home is a complement and support to the school, where the pupils live during the week. They go home to their families over the weekends.
Birgitte EK founded the school and the HVB home in 2004. Ten years later, in 2014, she felt ready to hand over the business to an owner that could continue developing it. She engaged Anecta to lead a competitive sale process. After several bids were received, a letter of intent was signed with the highest bidder, which carried out a due diligence survey with a view to taking over the company in the autumn of 2014.
A general election was held in Sweden in September 2014 and a new government came into office, which expressed its intention to cap profits in enterprises that provide welfare services and to prohibit venture capital firms from owning such companies. As a result, the buyer decided the political risk had become too high and backed out of the deal. A wet blanket was thrown over the entire transaction market for welfare service providers.
In 2016, Birgitte Ek asked Anecta to restart the sale process. Blichergruppen had by then made several structural changes and had concentrated the business to one property (Norrvidinge) and leased the other (Axelvold) to a company that provided temporary accommodation for asylum seekers. All of the prospective buyers were interested only in acquiring the core business, so the property operating as asylee accommodation had to be sold to facilitate a transaction. Anecta successfully executed the sale and subsequently sold Blichergruppen to Nytida in the autumn of 2016.
Nytida is the leading private provider of support services to children, youth and adults aimed at meeting the lifelong needs of people with disabilities and psychosocial difficulties. Nytida is part of the Ambea Group, which provides elder care services, housing support, training and staffing in the health and social care sector.
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