SageHome Partners With Cairngorm Capital and Acquires New Bath Today Inc.
ATLANTA, GA—SageHome Inc. is pleased to announce that it has partnered with strategic advisors Cairngorm Capital Partners LLP (Cairngorm Capital), and acquired New Bath Today Inc. (NBT). Both initiatives accelerate its aging-in-place offering.
Headquartered in Atlanta, Georgia, SageHome bridges the significant gap between health care and proactive home modification. It combines professional design and installation teams with occupational therapists’ expertise to create a stylish, functional and safe living space that allows seniors to remain independent in their homes. SageHome offers a rapid service to homeowners who are proactively preparing their homes to allow them to age in place comfortably, and also provides services to individuals who are transitioning from care facilities to their own home. SageHome’s mission is to provide a full-service, national solution to the market, which will enable seniors and people with disabilities to live independently at home and will help to reduce hospital admissions and readmissions across the US.
“We have big plans and our partnership with the team at Cairngorm Capital will allow us to accelerate them,” said Brian Hutto, SageHome’s CEO. “They have an impressive track record in our sector so we look forward to drawing on the invaluable operational and investment experience that they can share.”
Cairngorm Capital is a specialist private investment firm that provides equity capital, strategic advice and management expertise to ambitious companies to drive transformational growth. Cairngorm Capital’s buy, build and transformation expertise, gained from growing other assisted living businesses, such as Millbrook Healthcare, will support SageHome’s ambition to execute an accelerated growth strategy.
“We are thrilled and excited that we are able to help Brian, Tony and Joe advance their strategic plans,” said Andrew Steel, managing partner of Cairngorm Capital. “Our firm is very conscious of the home improvement needs of an ageing population – we already own two UK companies delivering health care solutions in this market and we look forward to sharing our knowledge. Both SageHome and NBT are excellent examples of the type of companies that we like to partner with. They have differentiated services and are led by excellent management teams.”
SageHome’s first acquisition, New Bath Today Inc. (NBT), is an award-winning bathroom renovation specialist, with a particular focus on the wet area of the bathroom—one of the key risk areas in the home for aging seniors. Headquartered in Indianapolis, Indiana and serving six states across the Midwest, NBT provides elegant bathing solutions, such as walk-in baths and low threshold showers, which can be installed within a day with minimum disruption to homeowners. NBT has 90 employees, plus a team of vetted and accredited sub-contractors.
“We are delighted to be collaborating with SageHome and are excited by the partnership,” said Mike Redman, NBT’s founding CEO. “We believe that we have found the right partners to help us advance our business—those who share our vision for growth but are respectful of our culture and will look after our people. This partnership is a perfect fit for us and will offer opportunities for rapid growth with SageHome and Cairngorm Capital.”
Mike, along with NBT’s president Ryan Redman, will continue to lead the business, collaborating with the SageHome team to expand geographically as well as into adjacent products and services, while continuing to prioritize a high level of customer care and satisfaction.
“The launch of our bath division is the first key stage in our strategy, so we are delighted to collaborate with Mike, Ryan and the rest of the NBT team,” said Hutto. “The overwhelming majority of mature Americans want to remain in home for as long as possible so we are excited to bring our solution to the market. Our goal is to develop a national home modification business that addresses all the needs of senior homeowners in a holistic way.”