Sun, 30 Jan 2011 | BUSINESS SALE
The Care Management Group is to be sold by its majority shareholder Chaitanya Patel, who is reportedly expecting a sale price of somewhere in the vicinity of £100m.
Comprising just over a hundred sites throughout Southern England and Wales, the company specialises in helping children and adults with physical disabilities, learning disabilities, sensory impairments, chronic mental health needs, communication problems and challenging behaviours.
Care Management Group Ltd recorded profits of £5.35m on a turnover of £41.9m in the year to 28 February 2010. The book value of its fixed assets are recorded at £78.9m, whilst fixed assets of its ultimate holding company, CMG Investment Holdings Ltd are recorded as £96.6m with long term liabilities of £102.7m.
One of the frontrunners to buy the business is Advent Capital, which has just bought the 66-clinic strong Priory Group from the Royal bank of Scotland. It also owns care home operator Craegmoor which may well be a good merger match for Care Management Group.
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