Advent International to acquire The Priory Group

Advent International, the global private equity firm, today announced that it has agreed to acquire The Priory Group, the UK’s leading independent provider of mental health and specialist care services, from The Royal Bank of Scotland Group plc for an enterprise value of up to £925 million. The transaction is subject to regulatory approval.

The Priory Group operates from 66 sites and delivers services through 3,355 beds across the country. The Group 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. It also offers specialist education for young people with challenging learning difficulties and behavioural problems as well as complex care services for the elderly, with a particular focus on dementia.

Advent will work with the existing management team to support the continued operational improvements being made across The Priory Group, as well as identifying opportunities for consolidation that emerge in the sector driven by a strong combination of social trends and economic and regulatory reform. The Advent team was led by Thomas Allen and Rory Pope.

Philip Scott, CEO of The Priory Group, said: “I am delighted that Advent International has agreed terms for the acquisition of The Priory Group.  Advent is the ideal partner that Priory has been seeking, given its extensive global and UK experience of successfully owning and managing healthcare investments. As a well funded, leading private equity firm, we look forward to Advent’s support in developing and growing our business over the next few years.”

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