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Bids, Mergers and Takeovers

Mears acquires Care at Home division of Care UK Ltd

01 June 2015 07:28

Mears Group has acquired Care UK Homecare Ltd and Care UK Community Care Agency Ltd, the corporate entities comprising the Care at Home division of Care UK Ltd.

Total consideration is £11.3 million in cash comprising a base payment of £9.0 million valuing the business on a debt-free basis and assuming a normal level of working capital together with a further payment of £2.3 million made in respect of cash balances and excess working capital acquired on completion.

CAH provides community based care services to over 10,000 service users in England, Wales and Scotland, and it has contracts with over 90 local authorities and Clinical Commissioning Groups (CCGs), employing circa 6,000 staff.

Story provided by StockMarketWire.com

Related Company: MER

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