Freeths advises on £16.9m sale of specialist care provider Selborne Care to CareTech
Freeths has advised the shareholders of Selborne Care Limited on the sale by them of the entire issued share capital of Selborne to CareTech Holdings Plc (an AIM listed company) for a total consideration of £16.9 million in cash.
Selborne is a high quality provider of specialist residential care, supported living and day care services for adults with learning disabilities and challenging behaviours. The company is based in Droitwich in Worcestershire and operates across the Midlands and South West.
CareTech Holdings Plc is a pioneering provider of specialist social care services in the UK.
Corporate partner Peter Hill at Freeths led the deal, assisted by corporate associates Thomas Rainey, Naomi Spring and Francis Dalton, and tax associate Matthew Switzer.
“It was great to work with clients whom I have known for many years and who have built up such a successful company. At Freeths our well renowned Healthcare team has extensive experience of the care sector and over the past year has advised operators, funders, developers and consultants on a range of transactions, including several large acquisitions and disposals. We wish all parties the best for the future.”
Mike Stratford, Chief Executive of Selborne, commented:
“Our experience of working with Peter extends back over many years. He and his very able team provided good advice and support that helped deliver a successful conclusion over a relatively short timeframe. We enjoyed working with Freeths on this transaction.”
Andy Moore, Managing Director of Bracebridge Corporate Finance, provided strategic, financial and commercial advice to the sellers.
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