CareTech acquires Oakleaf Care

CareTech has acquired fellow specialist care provider Oakleaf Care (Hartwell) Limited for £20.3m. The deal comprises an initial payment of £18.3m (including £11.4m for its nine freehold properties) and an earn-out of £2m, determined by EBITDA performance over the two years to 31 March 2018. The deal will be financed through the £30m raised in its ground rent transaction with Alpha Real Capital, which saw the freeholds of 41 CareTech properties transferred for a 150-year term.

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