Mitie buys home care provider

Bristol-based outsourcing company Mitie yesterday announced it had acquired the UK’s fourth largest home care service provider Enara from August Equity and Enara's senior management for £110m. The deal was funded by bridge loans from existing investors and though costs of around £5m are expected to be incurred in the next 12 months to integrate the two firms, the acquisition is projected to be revenue enhancing by 2014.