The group has nearly 1,600 staff supporting almost 450 individuals across more than 50 sites. The majority of its revenues come from long-term contracts with local authorities and housing associations.
Ancala first invested in the business, formerly known as Holmleigh Care Homes, in 2020. We sourced the opportunity through our Industry Partner network, forming a relationship with the existing owners to understand their priorities. We established that Holmleigh’s offering was the most aligned with its local authority customers’ objectives of providing community-based care at a lower cost. We also understood that the market was highly fragmented and that there was opportunity for consolidation to extend Holmleigh’s market leadership.
Since our investment, we have led the company to acquire Ludlow Street Healthcare, adding an additional 20 sites and new expertise to its existing network. In 2022, Ancala further strengthened the management team and helped the business to relaunch the company brand as Iris Care Group.
Despite the challenges of the COVID-19 pandemic and the subsequent shortage of labour, the company has maintained its focus on the quality of care and has invested in improving the quality of accommodation on offer. New work force management tools have enabled the business to minimise agency usage, both reducing costs and enhancing the quality of care provided. Recently, Ancala has helped the business to make significant investments to capitalise on new organic growth opportunities.