Mears Group PLC Acquires ILS Group Limited ("ILS") and Placing of New Ordinary Shares

Posted: 19th April 2013 10:02

Investec Bank plc ("Investec") is acting as financial adviser to Mears in respect of the Acquisition and Investec and Canaccord Genuity Limited ("Canaccord Genuity") are acting as joint bookrunners, joint underwriters and joint agents in the Placing.
David Miles, Chief Executive Officer of Mears commented:
"Fundamentally, the acquisition will provide Mears with the platform to provide higher acuity home services across the UK, complementing Mears' existing care capabilities and developing the capability to offer longer term continuing healthcare in the home, an area in which Mears does not currently operate. We look forward to welcoming the ILS employees into the Group as we continue to build the range of broader health and social care services for our clients. The acquisition provides Mears with an excellent geographic fit with Mears' existing care business in Scotland with limited branch overlap and will increase our presence in Scotland."

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