New Bath Today Acquisition
May 2, 2022
SAGEHOME ACQUIRES BATHROOM RENOVATION LEADER NEW BATH TODAY
New Partnership With Cairngorm Capital Partners LLP Results in 1st Acquisition
ATLANTA, GA – In a move designed to strengthen its position as a leader in aging-in-place solutions, SageHome Inc. announced today that it has partnered with Cairngorm Capital Partners LLP (Cairngorm Capital) and acquired New Bath Today Inc. (NBT).
“We have big plans, and our partnership with the team at Cairngorm Capital will allow us to accelerate them,” SageHome CEO Brian Hutto said. “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.”
SageHome bridges the significant gap between healthcare 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’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—reducing hospital admissions and readmissions across the U.S.
Mike and Ryan Redman, NBT’s founding CEO and President respectively, will continue their roles and will work with the SageHome team to expand geographically and into other product and service sectors. They will also continue to prioritize delivering unmatched customer 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,” Hutto continued. “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.”
New Bath Today Inc. is an award-winning bathroom renovation company that focuses on reducing the risks for aging seniors in the wet area of the bathroom. Based in Indianapolis, Indiana, and serving six Midwestern states, 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 subcontractors.
“We are delighted to be collaborating with SageHome and are excited by the partnership,” NBT CEO Mike Redman said. “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.”
Cairngorm Capital is a specialist private investment firm that provides equity capital, strategic advice, and management expertise to ambitious companies to help 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,” Cairngorm Capital Managing Partner Andrew Steel said. “Our firm is very conscious of the home improvement needs of an aging population—we already own two UK companies delivering healthcare 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.”
About SageHome
Headquartered in Atlanta, Georgia, SageHome is a home services organization that’s mission is to provide stylish home modifications for people who want to age in place gracefully. The company’s focus is on building a national solution for all seniors through both acquisitive and organic growth. As most senior slips, falls, and injuries occur in the bathroom, SageHome’s initial focus on the bathroom allows it to make the greatest impact societally, by providing safer bathrooms in the states in which it operates.
— sagehome.com —
