Wed, 08 Dec 2010 | BUSINESS NEWS
Trading and property firm The RO Group (ROG) has acquired its first care provider, according to corporate finance adviser Watersheds, who advised on the deal.
Potters Bar-based ROG, which has been trading since 1932, acquired Newton Abbot-based NewCare Devon, the biggest domiciliary care service provider in the area.
Family-owned ROG has built up and sold on operations covering a range of sectors, including butchers shops, retirement homes and, most recently, the residential letting agency Leaders. The latter was sold for £48 million in an MBO earlier this year.
The acquisition of NewCare will assist both companies in 'growing organically' and through a series of further acquisitions.
Business Development Director of ROG, Edward Rowlandson, said, “The management team at Newcare are highly experienced in the sector and are exactly the type of management talent we like to back.
“We are now hard at work assessing the first potential acquisitions for an expanding NewCare,” he added.
Chelmsford-based Watersheds, who have worked with ROG to seek acquisitions for some years, advised on this latest sale. Andrew Nicholson of Watersheds said, “It is enjoyable to assist a positive and clear thinking client of ROG's stature to satisfy their objectives.”
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