Mears plc, the Gloucester-based company which provides and manages 17,000 homes for local and central Government and is responsible for keeping 750,000 social housing homes in the UK in good repair, has finally completed its exit from domiciliary care
The company has sold its Scotland Domiciliary Care business to Cera Care Operations Holdings Limited, for £2 million. Cera Care bought Mears’ England and Wales Domiciliary Care business in January this year.
The proceeds from the disposal will be used to reduce Mears Group’s indebtedness, in line with its de-gearing strategy.
David Miles, Chief Executive Officer of Mears, said: “This disposal marks our exit from domiciliary care, in line with the Group’s strategy to purely focus on its core Housing solutions activities. This disposal to Cera Care provides continuity for our customers and employees, at the same time as enabling us to focus our efforts where we can deliver greater value for shareholders.”