Clearwater acquires TL Care
Synova Capital LLP (“Synova”), a leading private equity investor in smaller UK growth companies, announced the acquisition of TL Care UK Ltd. (“TL Care” or the “Business”) by portfolio company Clearwater Care (“Clearwater” or the “Group”) for an undisclosed amount.
TL Care, an East Midlands based supported living provider, was established by experienced care professionals Tracey Hilliard and Louise Martin during 2009. The Business has developed a strong reputation for delivering high quality care locally among both customers and commissioning bodies. The addition of TL Care to the Group compliments the existing geographic footprint and provides a strong platform for further growth within the Midlands, especially given Clearwater’s presence in Nottinghamshire and Derbyshire.
David Menton, a Managing Partner of Synova & a Director of Clearwater, said: “TL Care is a high quality provider which we have followed closely for some time. The founders have built an excellent service that we believe will be extremely complimentary to our Clearwater operations. This acquisition reflects the Group’s continued strategy of making select strategic acquisitions alongside the successful development of bespoke properties.”
Phil Arden, CEO of Clearwater, commented: “We are delighted to welcome TL Care into the Clearwater family and look forward to partnering with them and their customers going forward. We are pleased that Tracey Hilliard will be joining our team at Clearwater and look forward to working with her to further develop the service offering both locally and across the region.”