Specialist provider to float

Posted on September 22nd, by editor in Caring Times. No Comments

Major learning disabilities provider CareTech Holdings, which operates as CareTech Community Services, is planning to float on the Alternative Investment Market (AIM). Founded in 1993, CareTech operates more than 40 homes for people with learning disabilities and challenging behaviour. Law firm Pinsent Masons is advising the company on the planned flotation. Pinsent Masons acted for Barclays Private Equity (BPE) which invested in the secondary buyout of CareTech in 2002. Since then, CareTech has grown rapidly to become a major player in its sector. During BPE’s investment period, the Hertfordshire based company expanded from 254 beds in 2002 to 435 beds in 2005 and increased annual turnover to £18.2 million for the year ended September 2004. Pinsent Masons has now advised BPE on its exit with the sale of its stakeholding to CareTech management for an undisclosed sum. When floated, CareTech is expected to have a market capitalisation of more than £50 million. The company expected that trading in its shares w

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