Global private equity firm Advent International recently agreed to acquire The Priory Group, a UK-based provider of mental health and specialist care services, from The Royal Bank of Scotland Group plc. for an enterprise value of up to £925m.
Through the transaction, which is still subject to regulatory approval, Advent will help The Group develop and grow the business over the next years. Advent will work with the management team to support the continued operational improvements being made across The Group, as well as identifying opportunities for consolidation that emerge in the sector driven by social trends and economic and regulatory reform.
Established in 1980 and led by CEO Philip Scott, The Priory Group operates from 66 sites and delivers services through 3,355 beds across the country. It works in partnership with the NHS and local authorities to provide a range of treatment and care facilities including secure and acute services in the mental health sector and neuro-rehabilitation therapy. Particular areas of expertise include addictions, eating disorders, child and adolescent mental health issues, including adolescent addictions, autistic spectrum disorders, Asperger’s Syndrome, and children with behavioural, emotional and social disorders (BESD).
The Priory Group was acquired by RBS in 2007.