The Office of Fair Trading have announced they are currently investigating Cannock based Voyage Care’s recent purchase of Solar Care.
The OFT commented that the inquiry will examine if the deal qualifies as a “relevant merger situation” under the Enterprise Act 2002; and assess whether there is a realistic chance the merger will substantially lessen competition.
Voyage Care increased their portfolio of care homes to 363 when they acquired 92 care homes through their acquisition of Solar Care. This has given them a significant position in the independent care home sector.
Funded from existing cash and a further injection of equity from Voyage’s majority shareholders HgCapital and SL Capital Partners, Solar Care was purchased from Barclays Ventures, RBS and the company’s management team.
The government agency can look at a merger before the closure of a deal or up to four months after completion. They have invited comments please click here for details.