Livingbridge sells majority stake in Nourish to Hg

Livingbridge is pleased to announce that it has agreed to sell its majority stake in Nourish, a category-leading provider of software to the UK care sector, to Hg, one of the world’s largest software and services investors. The transaction represents a highly successful outcome for Livingbridge’s Enterprise 3 fund. Livingbridge will retain a minority equity stake and continue to support the business alongside Hg.

Driven by a mission to deliver a “Better Life for Everyone”, Nourish empowers care providers to plan, record and coordinate deliver personalised support to those in care.

With Livingbridge’s support, Nourish has significantly broadened its impact while maintaining a continuous focus on collaboration with care providers and service users to deliver innovative new products that improve lives.

In September 2023, Nourish acquired CarePlanner, expanding its impact into home care and more recently the business has significantly invested in its AI capabilities which are showing the potential to significantly enhance care while giving back carers valuable time to focus on the people they support.

This transaction marks another successful exit for Livingbridge, reinforcing its strong track record of backing high-growth businesses and creating value through strategic investment and operational expertise.

Sanjay Panchal, Partner at Livingbridge said: "It has been a privilege to support Nuno and the Nourish team over the past four years to improve countless lives. Nourish has become a wonderful example of the impact you can deliver when a culture of care and a bold mission are paired with the very best of today’s technology. We're excited to continue our journey with the Nourish team alongside Hg, who share our belief in Nourish’s potential to transform care”

Nuno Almeida, Founder and CEO of Nourish, said: “Livingbridge has been a fantastic partner over the past four years – sharing our values and ambition to transform care, while providing us with the support we need to make Nourish’s mission a reality. Their understanding both healthcare and technology, and how to bring the two together with the required empathy been invaluable. I am thrilled that they will remain alongside us for the next part of the Nourish journey as we begin this exciting next chapter with Hg.”

David Issott, Partner at Hg, said: "Social and community care is some of the most important work in our society, and carers deserve the very best technology to support them in this work. We are delighted to be backing Nuno and the team at Nourish to continue delivering on that. Nourish has a modern product that care providers love, developed in close partnership with the people who use it. Better software allows care workers to spend more time on care and less on admin, helping to deliver better outcomes for the people they support."

Livingbridge was advised on the transaction by Arma Partners and Shoosmiths. Hg was advised by Houlihan Lokey and Skadden