Care UK moves into foster homes

Posted on February 1st, by editor in Caring Times. No Comments

Major provider Care UK has acquired the Fostering Support Group Ltd (FSG), a specialist independent fostering company providing more than 100 local authority foster care placements across Kent and South London. The £3.6m acquisition is in line with Care UK¹s strategy of investing in the children¹s care market, building on the company¹s existing presence in the residential care sector. Care UK describes FSG as a highly regarded fostering provider and says the opportunity exists both to extend its current scale within London and the South East and to replicate its services in other regional locations as part of the overall development of children¹s services within Care UK. The acquisition of FSG is from a number of private vendors, for a maximum of £3.6 million of which £3.0 million was paid on completion with £0.6 million being contingent on the results for the first six month period following completion. The acquisition will be financed from Care UK¹s existing borrowing facilities. Care UK chief exec

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