Further acquisition for CareTech

AIM-listed specialist care provider CareTech is to acquire residential childcare business ROC North West for up to £11.4m. The deal comprises a net initial cash payment of £8.7m and an earn-out of up to £2.7m for the provider of residential care and education services for young people with complex needs. Funded from existing resources, the acquisition uses the remainder of the proceeds from CareTech’s share placement in March 2015.