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27 June 2022

Charles Russell Speechlys advises Caretech Holdings PLC on its proposed £870.3 million take private

Charles Russell Speechlys is advising the independent board of Caretech Holdings PLC, the AIM-listed care provider, in its take private sale to a management-led bidding vehicle, Amalfi Bidco Limited, for £870.3 million.

The Caretech business was founded by Farouq and Haroon Sheikh, who founded the company in 1993, and are executive chair and chief executive officer, respectively. Caretech was admitted to AIM in 2005, and has continued to grow in both scale and service offerings to become one of the UK's largest social care providers.

Under its new ownership, Farouq and Haroon will remain fully involved in the management of Caretech. The Offer is to be effected by means of a scheme of arrangement under Part 26 of the Companies Act 2006.

Charles Russell Speechlys has acted for Caretech, one of the largest providers of social care services across the UK, since 1995, including on a number of strategic acquisitions and other transactions and led by Relationship Partner, Michael Lingens.

The Charles Russell Speechlys team is being led by Corporate Partners Paul Arathoon and Andrew Collins, with support from Iwan Thomas and Laurence Whymark. The team also included Partners Rob Birchall (Corporate Tax) and Paul Stone (Competition & EU).

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