Claimar plans launch
Article Date: Jan 12 2006
Claimar Care, the operator of domiciliary care centres for the elderly and infirm, hopes to raise £4 million from investors before listing on AIM at the end of this month.
Based in Birmingham, Claimar provides a plethora of services (from help with personal hygiene and dressing through to assistance with laundry and shopping) via 18 offices in the East and West Midlands and the North West. The group’s 850 members of staff perform more than 35,500 visits each week, the majority arranged through long-standing contracts with local authorities.
With the aid of broker Arden Partners the company is seeking to place £7.5 million of shares – including £4 million of new money – prior to its flotation on or around 31 January. This cash will be used to expand the business both organically and acquisitively with advances expected in ‘complementary geographical and operational areas’.
A starting market valuation of between £15-£20 million is anticipated.
