It has paid £22.5m to take over Scottish homecare company ILS.
ILS provides community-based care services to approximately 3,400 service users. More than 40% of its work is in higher acuity services, giving Mears a platform to roll out higher acuity services across the UK.
A share placing is expected to raise £19.7m for the deal, with the balance coming from existing debt facility.
For the 12 months ended 31 January 2013 ILS generated unaudited EBITDA of £2.89m (before corporate costs) on revenues of £24.4m.
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