The Competition and Markets Authority (CMA) has cleared CareTech Holdings’ acquisition of the Cambian Group.
CareTech completed the purchase of Cambian on 19 October, however, three days prior the CMA served an initial enforcement order on the two providers in relation to the £372m acquisition to investigate the effect of the deal on the children’s care sector.
Phase one began on 13 December, with the deadline for the authority to announce its decision whether to refer the merger for a phase two investigation on Monday (11 February).
It has decided against that and cleared the deal.
Farouq Sheikh, CareTech executive chairman, said: ‘We are delighted by the CMA’s decision and would like to place on record our appreciation to all involved during the CMA process particularly the executive teams at CareTech and Cambian. We will now move forward with the integration, creating value for all our stakeholders through the highest quality service offerings and significant synergies’