London-based investment firm Ignite Growth has acquired Acorns (Southern), a specialist supported living business based in Curdridge, Hampshire, providing care for more than 30 adults with severe learning disabilities and autism in their own homes.

Prior to Ignite’s investment, Acorns was owned by its founder and chief executive Sue Vaughan, together with a group of angel investors. 

Vaughan, who is retiring, remain a significant shareholder and consultant to the business.

Ignite has sourced an experienced team to work alongside the existing Acorns staff who will remain in place and continue to manage the business.

Acorns’ incoming chief executive is Cass Palmer, supported by Paul Callander as chairman, both experienced managers of specialist health and social care businesses. Cass was previously chief operating officer of Arch Care Rehab Services and before that area director of Achieve together. Callander is the former chief executive of Horizon Group, a large looked-after children’s services businesses and prior to that managing director of Caretech and Lifeways. He is also chairman of Cornerstone Healthcare Group, another Ignite investment.

Ignite stated it will “build the business organically in Hampshire and surrounding counties through ongoing investment in staff and culture and through partnerships with property providers to source appropriate homes for service users”.

Forbes Stuart, partner at Ignite Growth, said: “Acorns is a clear leader in the provision of care to vulnerable people in Hampshire. Under Sue’s leadership it has become a business with a strong reputation with both commissioners and services users’ families. As well as providing phenomenal care to its services users, Acorns also saves the NHS and local authorities considerable sums of money by looking after vulnerable people in the community rather than in an expensive and inappropriate residential care setting.”

Palmer said: “Sue and the whole Acorns team have done an incredible job at creating a business with a passionate commitment to care standards and quality. I look forward to working with Acorns and Ignite to expand the business and continue to provide exceptional specialised care to individuals in Hampshire and neighbouring counties.”

Vaughan commented: “Ignite were straightforward and easy to work with and they have allowed me and my fellow shareholders to achieve our aspirations. We have a fantastic team of managers and care workers and I know Cass is going to fit in perfectly with our culture and will help take the business forward. The business is in good hands and I am very excited about the future for Acorns.”

Debt for the investment was provided by Shawbrook Bank. Ignite was advised by Trowers & Hamlins (legal), Hazlewoods (financial advisors and due diligence), Tax Advisory Partnership (tax due diligence), Connell Consulting (commercial due diligence). The vendors were advised by Quantuma (corporate finance) and BDB Pitmans (legal advisors).