European Care Group expands Scottish presence with £12m acquisition

European Care Group, one of the UK's leading residential care providers, has strengthened its presence in Scotland with the acquisition of Scottish-based Combined Healthcare.

The £12m deal, supported by Clydesdale Bank, sees European Care acquire Combined Healthcare's five Scottish care homes - including one specialist care home - and is part of a sustained drive by the London-headquartered group to grow its brand north of the border.

The agreement - which covers Combined Healthcare's homes in Strathaven, Hamilton, East Kilbride, Prestwick and Millport - will more than double European Care Group's presence in Scotland, where the company already operates facilities in Glasgow, Dumfries and Aberdeenshire.

Founded in 1999, European Care has grown quickly through acquisitions in the past seven years and now manages more than 2,500 care beds in the UK.

A multi-disciplined care provider, European Care delivers a comprehensive range of integrated services and works closely with a wide variety of public and private sector clients.

A major player in the SME and corporate banking markets, the Clydesdale Bank is actively growing its business banking offering through its unique, UK-wide network of over 80 Financial Solutions Centres (FSCs) which offer a 'one-stop-shop' for businesses and high-net-worth individuals.

A new concept in banking, the FSC network allows local personnel to make on-the-spot decisions regarding issues such as credit or finance without referring customers, referred to as members, to other departments - an approach not taken by any of the other leading banks.

Mr Treon, chairman and chief executive of European Care, said: "Our company has enjoyed a period of rapid and sustained growth in recent years due to the quality of our services and staff and we are keen to continue our expansion into the Scottish market. The Combined Healthcare facilities share our high-standards and will be an important addition to the European Care Group."

Mark Hull, acquisition finance director at Clydesdale Bank in Glasgow, added: "European Care Group is emerging as a real force in the Scottish care sector and this acquisition further enhances the company's commitment to growing its Scottish operations. We have been delighted to work with Anoup and his team and look forward to continuing our relationship with them in the future."