UK Private Equity Fund Synova Acquires Clearwater Care

Synova Capital, a UK private equity fund focused on the lower mid-market, acquired Clearwater Care, a provider of specialist residential care facilities and supported living services for people with learning disabilities.
Clearwater operates 14 care homes, predominately located in South East England, and provides specialist services and residential care for adults with complex needs and severe learning disabilities.
According to a statement, Synova will support Clearwater with further capital to grow the Business both organically and through acquisition.
Commenting on the acquisition, Tony McLean, CEO of Clearwater said: “With Synova’s financial support and the principals’ considerable experience in the residential healthcare sector, we will pursue our strategy of growing the Business through targeted acquisitions and the extension of the Group’s service offering”.
According to David Menton, a Managing Partner of Synova Capital, the London-based private equity fund has already identified a pipeline of potential acquisitions.
“We are also pleased that the Group’s lenders, Bank of Ireland, are continuing to support the Business and look forward to working with them on the implementation of our growth strategy”, he added.


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