Ashurst advised Agilitas, the pan-European mid-market private equity firm, on the management buyout of Exemplar Healthcare, a UK provider of residential nursing care for adults with acute physical and mental disabilities and learning disabilities.

The deal comes after Agilitas last week sold French company Ionisos to the independent private investment company Ardian, on which Ashurst also acted.

Based in Rotherham, Exemplar operates 25 high quality, purpose-built specialist nursing homes, providing more than 700 beds across Yorkshire, Humberside, the Midlands and the North West. It employs approximately 2,100 staff and generated revenues of GBP55 million in the year ended 31 March 2016.

Additional capital has been committed to fund the business's future expansion, involving the creation of new care homes and "step-out" units for those adults ready to live more independently.

The Ashurst team was led by private equity partner David Carter, assisted by associates Braeden Donnelly and Francesca Downes and solicitor Sara Hamzawi. Banking advice was provided by partner Ross Ollerhead, assisted by senior associate Campbell Johnston and associate Kate Davies.

Partner Alexander Cox and senior associate Philippa Michie advised on the tax aspects of the transaction. Associate Emma James provided employment advise, while counsel Jonathan Hoare advised on the real estate aspects.

Investment funds partner Jeremy Bell and associate Neil Ziatabari also advised on the deal.