GI Partners eyes sale of mental health-care provider Cambian

 
Kasmira Jefford
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THE OWNERS of the Cambian Group are exploring the sale of the UK’s largest healthcare provider for around £500m.

GI Partners, the private equity group, has appointed the investment bank Rothschild to work on a strategic review that could lead to the sale of Cambian.

Sources close to the company said that GI hoped to fetch up £500m for the company although they indicated that the figure was at the top of current estimates.

Cambian provides residential care and rehabilitation services for over 1,300 patients in more than 60 facilities. It works with 140 local authorities and employs more than 3,500 staff across the UK.

The group also provides educational services for people with learning disabilities and runs specialist Asperger and autism schools for children and adults.

GI Partners, which has offices in both London and California, acquired Cambian in 2004 and has grown the business through acquisitions in the sector. In 2008, it acquired psychiatric rehabilitation firm Care Aspirations in a deal thought to be worth around £60m. In April it bought Signpost Children’s Services, a Devon-based care service provider for deaf children.

GI was set up in 2001 and has around $8.4bn (£5.2bn) assets under management. The firm also owns UK caravan park operator Park Resorts.

A spokesperson for GI Partners was unavailable for comment.