Fri, 26 Aug 2022 | BUSINESS SALE
Optimo Care Group has acquired Greater Manchester-based domiciliary care provider Mayday Homecare in what it says will be the “first of many” acquisitions planned over the coming year.
Optimo is planning to use an acquisition-led growth strategy to establish itself as one of the UK’s leading providers of community care. The UK care sector is highly fragmented and has seen a strong degree of dealmaking over recent years, particularly in the wake of the COVID-19 pandemic.
Founded in 1982, Mayday Homecare serves communities in the Bolton and Bury areas of Greater Manchester, employing 160 people. The company provides 4,000 hours of care per week, which will increase Optimo’s capacity by around a third.
Optimo, which employs around 700 staff across the North of England, says that it plans to grow Mayday further by expanding its team and services.
Founded in 2010, Optimo Care Group has grown to generate annual revenues of around £12 million. The group, which is backed by funding from Oxygen Enterprise Partners, says it plans to create a network of high-quality, progressive care services throughout the North of England.
Commenting on the acquisition, Optimo Care Group’s Head of M&A Ben Hales said: “The acquisition of Mayday complements our strategy to acquire community care businesses across all the segments of homecare. We aim to add our financial and technical resources to these businesses to help continue their growth into the future.”
“This acquisition furthers the breadth of our offering in the homecare market and cements Optimo as one of the region’s leading community care providers.”
Optimo CEO Richard Walker added: “This partnership is the culmination of months of hard work and is a great example of Optimo’s pro-active, market-led approach to acquisition.”
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