Duke Street acquires Homecare business in UK and Ireland

Duke Street, the mid-market private equity group, has acquired Air Products’ Homecare operations in the UK and Ireland. The business delivers oxygen-therapy, sleep apnoea therapy and non-invasive ventilation therapy services to patients in the home across 3 regions in the UK and the whole of Ireland. The consideration has not been disclosed.

Led by CEO Adam Sullivan and the former Air Products Homecare management team, the Crewe, UK headquartered business will be rebranded Baywater Healthcare following completion. Douglas Quinn, the former CEO of Paragon Healthcare (now Voyage and formerly a Duke Street portfolio company), joins the business as Chairman.

Commenting on the transaction, Charlie Troup, a partner at Duke Street, said:

“This transaction represents an exciting opportunity to acquire a high-quality but non-core healthcare business from a global industrial group. We have significant experience of the healthcare services sector, which we see as well suited to the Duke Street approach to company development, and we see exciting opportunities to build on Baywater’s position as a provider of high quality services to patients in their homes. The firm remains keen to back strong management teams in pursuing organic growth and operational improvements, as well as acquisition-led growth.”