Latest acquisition puts care group on track to hit ambitious growth targets
Care group Optimo has made its latest acquisition as part of its ambitious growth plans to double revenues to £60m.
It has bought CFT Care is a supported living and specialist care provider, based in Clacton, Essex, for an undisclosed sum. The deal follows post-pandemic purchases of six companies, including Abbeycare, Stepping Stones, and My Life Choice.
CFT Care was established in 2014 by David Thompson, and the company employs 230 staff members who support 60 younger adults with learning disabilities and autism.
Optimo plans to expand the team to accommodate the anticipated growth in services.
CFT Care operates around 44 purpose-built supported living units across multiple sites in cluster settings, all of which will be included in the acquisition. This acquisition also includes a portfolio of supported living development sites for future expansion.
Ben Hales, group projects director and head of M&A at Optimo said: “CFT Care has built and maintained an excellent reputation in the Essex area. With significant potential for continued growth through new development sites in the pipeline, we are eager to begin working with the team to drive our shared vision forward.”
Optimo supports thousands of people across the UK with a variety of complex and specialist support needs.
An acquisitive strategy and strong organic growth over the last 18 months has resulted in the Group trebling its post-pandemic revenues.
The addition of CFT Care means the group now employs 1,400 people and has a strategy of doubling its revenues to £60m in the next three years.
Barnsley-headquartered Optimo has recently brought together its homecare brands WarrenCare, Local Care Services, TLC, Mayday, and Safe Hands under a single new identity, Choices Homecare, which operates in 12 locations across the North.
Optimo operates three core divisions – supported living for younger adults with learning disabilities and autism; specialist care for younger adults with specialist support needs; and elderly homecare for those who require support in their own homes.
The sale was facilitated by Redwoods Dowling Kerr. Optimo was advised by Freeths (Legal), Hazlewoods (financial and tax), Knight Frank and Eddisons Commercial (property). CFT Care was advised by Ellisons (legal) and TC Group (tax).
