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Keycare Services
29/09/2006
Careforce Group has acquired Keycare Services, the provider of domiciliary care services with 130 staff in Workington and Carlisle, for up to £1.3m. An initial payment of £1m will be made in cash and shares, with a further cash payment of up to £0.3m subject to Keycare acheiving agreed EBITDA targets over the next 12 months. The acquisition is Careforce's eighth since it listed on AIM in 2004, and adds 14 branches to its network taking it to a total of 29. Mike Rogers, Chief Executive of Careforce, commented: “We were particularly impressed by Keycare’s strong reputation for delivering quality services, a philosophy that prevails across our branch network. The acquisition also complements our geographic area of operation, which now extends from the South East of England, through the East Midlands, Yorkshire, Cumbria and the North West.”
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