£27m Supporta takeover draws nearer

The £27m takeover of homecare service provider Supporta by the Mears Group looks to have moved a stage nearer with the bidder claiming to have the support of more than 61% of shareholders.

Mears, which provides social housing maintenance and domiciliary care, made its move on the Bromsgrove-based company last year.

Earlier this month, Mears claimed it had more than 50% support for its bid and discussions since then have apparently swayed more shareholders.

Mears announced yesterday that as a result of its offer being declared unconditional its offer for the company would remain open until February 9.

Mears’ interest in the company is understandable as it is keen to extend its reach into the domiciliary care market, which is worth an estimated £3b a year and expected to increase as Britain’s aged population rises.

Mears’ chief executive Bob Holt was also a former chairman of Supporta so he knows both the company and its market very well.

Prior to Christmas, Allied Healthcare International was also thought to be keen on Supporta but then it decided not to press ahead with any offer and terminated discussions with the firm.

This has effectively left the field open for Mears. The Supporta board as already recommended to shareholders that they accept the Mears offer.

Supporta Care, which employs more than 2,850 people, is one of the largest and most experienced providers of care at home in the country. It works with 52 local authorities and 18 PCTs around the country and provides care services to more than 3,500 users.