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Equity firm gains stake in nursing agency after management buy-out

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Temporary staffing provider Nurse Plus has become the subject of a management buy-out, which its new owners hope will see the organisation grow by nearly a third in size.

Canterbury-based Nurse Plus operates from a network of 26 branches in the UK and manages over 1,000 temporary workers. It was set up in 2005.

This month’s £15m management buy-out was backed by a private equity firm, Key Capital Partners, which invested £6.5m.  

In a statement, KCP said its investment would “fund the expansion of the business to 40 branches within five years and support the development of over a thousand more highly trained nursing and care staff”.

Nurse Plus managing director Heath Blake said: “Our determination to improve patient care has been integral to our decision to take on external investment.

“Expanding the branch network and increasing our capacity to train more quality staff is essential to our business and in helping those in need. We look forward to working closely with the team at KCP to fulfill our ambitions.”

KCP investment partner Mike Fell and director Philip Duquenoy will now join the board of Nurse Plus.

Mr Fell said: “Our investment in Nurse Plus will support the business in its objectives to improve patient care and in providing cost-effective and flexible staffing solutions to the healthcare sector.”

The Co-operative Bank also provided a £4.3m debt facility to support the management buy-out.

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