Claimar Care Group confirms flotation plans

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

Homercare provider Claimar Care Group has confirmed that it will seek a listing on The Alternative Investment Market (AIM) of The London Stock Exchange. The flotation will be by way of a placing to raise about £7.5 million through its nominated adviser and broker, Arden Partners, of which £4 million will be through the issue of new shares. The company is expected to have a market capitalisation on flotation of about £15-20 million. Based in Edgbaston, Birmingham, Claimar Care employs around 850 staff. With 18 branch offices throughout the East and West Midlands and the North West, the company delivers more than 35,500 planned home visits each week. More than 95 per cent of its revenues are derived from long term contracts (typically three to seven years) with 21 local authorities served by its branch network. The balance of revenues is generated from private customers. Claimar Care was founded in 1994 by Jim and Birdie Ceaser to take advantage of a growing trend at that time for local authorities to outsou

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