Clearwater provides specialist care services for people with complex needs and severe learning disabilities in both a Residential and Supported Living setting. The Group’s services are located in the South East, including London, and the Midlands, delivering levels of care designed to maximize people’s potential and independence. Smith Cooper provided accounting and taxation services on the transaction, which saw the previous owners, comprising individual shareholders and private equity firm, Synova Capital, realise their shareholdings.
Salutem’s strategy for Clearwater is to merge it with its existing platform of leading care provision for people with learning disabilities, formed when they acquired Pathways Care Group and Modus Care in April 2017, furthering its strategy of building a leading provider of care for both children and adults with learning disabilities and associated needs.
Philip Arden, CEO of Clearwater, commented: “I have thoroughly enjoyed working with Synova who demonstrated a detailed understanding of our business. Their strategic vision and operational discipline have been instrumental in the development of the Group and leave Clearwater well positioned to grow in a market looking for bespoke solutions for adults with complex Learning Disabilities”.
Philip Shapiro, a Managing Partner at Synova and a Director of Clearwater, commented: “We are delighted with the completion of our successful investment in Clearwater. Since we acquired the Group, we have seen significant growth in turnover, profits and occupancy levels. We thank the Clearwater management team and staff for their valuable contribution and hard work. Salutem has a clear vision and ability to continue this growth”.
Nov 17Smith Cooper Team