June 2008

CareTech Acquires Valeo Limited

CareTech Holdings PLC have recently completed the acquisition of Valeo Limited, a provider of specialist services for adults with learning difficulties, including residential care and supported living schemes.  Valeo has 10 homes located in Yorkshire, with a total capacity of 71 beds for adults with learning difficulties including residential care and supported living schemes.  The acquisition of Valeo continues the company’s strategy to take advantage of the consolidation opportunities in the physical learning disability market and to increase the number of beds and homes it operates, reinforcing the company’s position as a market leader in its niche.

Consideration of up to £15.3 million is payable, £12.5 million was paid at completion of which £1 million was in shares. 

This acquisition follows that of Beacon Care in April and the company continues to seek to take advantage of the consolidation opportunities, in addition to pursuing organic growth.

Financial advice was provided to CareTech by a team from Hazlewoods Corporate Finance led by Andrew Brookes and Richard Dade.  The team provided financial due diligence and lead advisory services on the acquisition. 

Legal advice was provided by a team from Pinsent Masons in Birmingham, led by Ann McCarthy.  The team provided a full suite of legal services on the acquisition.

For further information on this press release, please contact:

Andrew Brookes
LLP Corporate Finance Partner

Tel:  01242 246670