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Domiciliary care services provider Claimar Care Group plc has completed its 10th acquisition since it joined AIM last year.

The group, which provides its services to local authorities in the Midlands and Northwest, has bought Acorn Home Care in its largest deal since its IPO 16 months ago.

The deal has been agreed for some £10.2 million, with £8.3 million paid in cash funded from the proceeds of its March placing and through debt. The consideration includes £1 million worth of shares with the balance in loan notes.

The Acorn deal strengthens Claimar’s existing business and takes its workforce to some 2,000 providing more than 46,000 hours of service each week. The group now has 40 contracts with local authorities, many of which are long term typically for three to five years.

This is not the last of the group’s acquisitions, with its chief executive, Mark Hales, admitting that the board is already holding discussions with several parties regarding potential deals.

Acorn is a domiciliary care provider delivering more than 13,000 hours each week from 14 branches. It has contracts with 13 local authorities and employs some 600 staff.

In the 12 months to July last year, Acorn’s un-audited accountants showed a £5.6 million turnover and a £58,000 pre-tax profit.

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