Based in Southern England
Overview
With a wealth of expertise and knowledge in supporting vulnerable young people, Project Aster has built an exceptional reputation for the provision of support, guidance, education, and accommodation for care-experienced children and young people across southern England.
Committed to helping young people develop the practical and emotional lifelong skills they need to live independently, the company offers a variety of support models in either shared or independent accommodation.
The business can provide its services to children and young people who require accommodation and support, such as looked-after children, unaccompanied asylum-seeking children, young offenders, and young people with disabilities and mental health issues.
Having built a highly reputable organisation, our client is now offering the company for sale to facilitate growth under the impetus of new ownership.
Offers invited.
Key Highlights
- Heavily involved in the consultation with Ofsted for the regulation of supported accommodation, creating a high barrier to entry.
- 25 block beds and 19 call-off beds with a local council, with two new block beds currently in process and two block beds under negotiation.
- 14 beds utilised by other local authorities.
- Currently approved with a London framework as well as local authorities in Surrey, Bracknell, West Sussex, Dorset, Somerset, Portsmouth, Southampton, Bournemouth, Christchurch and Poole.
- Highly trained and dedicated workforce in place led by an experienced second-tier management team.
- Operates from leasehold office premises.
- Passed stage two of recent Ofsted regulations.
Financial Highlights
- YE23 turnover of circa £1.5m.
- Adjusted EBITDA of £354k achieved within the same year.
- Forecast figures indicate a turnover in excess of £1.7m for YE24, with an adjusted EBITDA of £506k.
- YE25 projections of £1.9m, with an adjusted EBITDA of approximately £605k.
- 90% of turnover derives from various local authorities, with the remaining 10% obtained via housing benefit and universal credit.
- Block bed contract in place with a local authority, ensuring reliable streams of ongoing revenue regardless of occupation levels.
