Houlihan Lokey Advises Hg

Houlihan Lokey is pleased to announce that Hg, a leading investor in European and transatlantic software and services businesses, has made a strategic growth investment in Nourish Care (Nourish), a leading provider of software for the U.K. social and community care sector.

Hg is an AI leader in private equity, helping to build sector-leading enterprises that supply critical applications or workflow services to deliver intelligent automation for their customers. With a vast European network and strong presence across North America, Hg has more than $110 billion in assets under management, and its portfolio spans around 60 businesses worth over $190 billion in aggregate enterprise value.

Founded in 2011 and headquartered in Bournemouth, U.K., Nourish’s mission is to deliver “Better Care for Everyone” by helping care teams plan, record, and coordinate care, with the person receiving support at the centre. The company’s integrated product suite helps providers deliver better care, improve quality, strengthen operational performance, and gain greater insight from their data. Nourish’s commitment to continuous product innovation has helped it earn the trust of many of the U.K.’s leading care providers, including residential and home care.

Hg’s investment will help Nourish continue to invest in its product and develop new solutions that improve the customer experience, make carers’ lives easier, and keep human relationships at the heart of high-quality care.

Nourish’s founder, Nuno Almeida, will continue to lead the company as CEO and remains a significant shareholder. Livingbridge, which has backed the company since 2022, will retain a minority stake.

Mr. Almeida said, “If you make care teams’ lives easier, you also improve the care that reaches each person they support. AI is a big part of where we take that next. Used well, it can be an ally to carers, taking on the admin and surfacing the right information at the right moment, while staying out of the way of the human relationships that good care depends on.” He added, “Hg’s AI product team, Hg Catalyst, [will] give us a real advantage when building new AI products.”

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.”

Houlihan Lokey served as the exclusive buyside financial advisor to Hg, leveraging long-standing relationships with the sponsor, the company, and the incumbent investor, having advised Livingbridge on its initial investment in Nourish in 2022. This deal further solidifies Houlihan Lokey’s position as one of the leading advisors in the healthcare technology space, marking its third deal in the past 12 months in social and community care, following its role as the exclusive sellside advisor to MYP Technologies on its sale to System C and as the exclusive financial advisor to Person Centred Software on its debt financing and minority equity investment by Brighton Park Capital.

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