Claimar completes 10th deal

Domiciliary care services provider Claimar Care Group has completed its tenth acquisition since it joined AIM last year. The group, which provides its services to local authorities in the Midlands and North West, has bought Acorn Home Care in its largest deal since its IPO 16 months ago.


Domiciliary care services provider Claimar Care Group has completed its tenth acquisition since it joined AIM last year. The group, which provides its services to local authorities in the Midlands and North West, has bought Acorn Home Care in its largest deal since its IPO 16 months ago.

Domiciliary care services provider Claimar Care Group has completed its tenth acquisition since it joined AIM last year. The group, which provides its services to local authorities in the Midlands and North West, has bought Acorn Home Care in its largest deal since its IPO 16 months ago.

The deal has been agreed for some £10.2 million, with £8.3 million paid in cash funded from the proceeds of its March placing and through debt. An additional £1 million will be paid in shares, with the balance in loan notes.

The Acorn deal strengthens Claimar’s existing business and takes its workforce to some 2,000, providing more than 46,000 hours of service each week. The group now has 40 contracts with local authorities.

This is not likely to be the last of the group’s acquisitions, with its chief executive admitting that the board is already holding discussions with other parties regarding potential deals.

Acorn is a domiciliary care provider delivering more than 13,000 hours of care each week from 14 branches. It has contracts with 13 local authorities and employs 600 staff.

In the year to July 2006, Acorn’s unaudited accounts showed a turnover of £5.6 million and pre-tax profits of £58,000.

Marc Barber

Raven Connelly

Marc was editor of GrowthBusiness from 2006 to 2010. He specialised in writing about entrepreneurs, private equity and venture capital, mid-market M&A, small caps and high-growth businesses.

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