John Key and National anyone ?
Concern at private equity’s role in social services
Nick Mathiason, business correspondent
Sunday October 14, 2007
The collapse of a private equity-backed care home dealing with sexually abused and autistic children has sparked renewed concern at the advance of financial buyers into British public services.
Sedgmoor, owned by established private equity firm ECI Partners, ran 45 homes for vulnerable children. It went into administration two weeks ago.
After selling most of the care homes, administrator KPMG spent several days urgently liaising with local authorities to find places for dozens of children. Charities claimed some had nowhere to go after the school day ended.