BusinessCompany NewsGT advises on first PLC buyout by a not-for-profit

GT advises on first PLC buyout by a not-for-profit

Not-for-profit Housing 21 looks to buy AIM-listed Claimar Care

Grant Thornton has advised on what is believed would be the first ever buyout
by a not-for-profit organisation of a PLC.

Health and social care provider Housing 21 has offered to buy AIM-listed
Claimar Care in what has been valued at a £19.5m deal. The deal is still
awaiting Claimar shareholders’ approval.

‘This is the first time that a not-for-profit organisation has launched a
full takeover of a publicly quoted company in the UK,’ said Stephen Baker,
corporate finance partner at Grant Thornton.

‘The transaction posed the unique challenge of balancing the objectives and
philosophies of a social enterprise with the requirements of a corporate
transaction under the Takeover Code.’

The deal would enable Housing 21 to achieve greater efficiencies and position
itself as one of the principal providers in the community care sector.

Related Articles

Grant Thornton recruits new corporate finance partner

Accounting Firms Grant Thornton recruits new corporate finance partner

10m Emma Smith, Managing Editor
Audit partner appointed at Grant Thornton in North West

Accounting Firms Audit partner appointed at Grant Thornton in North West

11m Stephanie Wix, Writer
Partner profits slump at Grant Thornton

Accounting Firms Partner profits slump at Grant Thornton

12m Stephanie Wix, Writer
Forensics head and tax partner appointed at Grant Thornton

Accounting Firms Forensics head and tax partner appointed at Grant Thornton

12m Stephanie Wix, Writer
Tern chooses Grant Thornton as auditor

Accounting Firms Tern chooses Grant Thornton as auditor

1y Stephanie Wix, Writer
Watchdog launches audit investigation into Sports Direct

Accounting Firms Watchdog launches audit investigation into Sports Direct

1y Stephanie Wix, Writer
New financial services advisory partner for Grant Thornton

Accounting Firms New financial services advisory partner for Grant Thornton

2y Fraser Simpson, Reporter
MPs call firms to give evidence over BHS collapse

Accounting Firms MPs call firms to give evidence over BHS collapse

2y Chris Warmoll, Writer