Home care services provider Optimo Care Group has bought Keymen Associates also known as Mayday Homecare, HealthInvestor can reveal. The acquisition is part of Optimo’s strategy to acquire community care businesses across all the segments of home care.

Founded in 2010, the Oxygen Enterprise Partners-backed Optimo consists of six subsidiary companies: TLC Homecare, Choices Homecare, Warrencare, Town & Local Care, Care with Choices and now Mayday Homecare. Optimo delivers over 12,500 hours of care per week to service users across the North of England, employing over 800 people.

This is Optimo's first acquisition following a four-year gap since the Choices Home Care deal in August 2018.

Optimo generated revenue of around £12.4 million and EBITDA of £1.1 million in the year ended 31 July 2021, according to its latest Companies House filing.

The value of the deal was undisclosed, but the company estimates to see growth in turnover in the region of 40% as a result of the acquisition, this publication is told.

Mayday Homecare, established in 1997, operates across the Bolton and Bury areas. Mayday specialises in domiciliary care, currently delivering more than 4,000 care hours per week to around 500 clients and employs around 160 staff.

Ben Hales, head of M&A at Optimo tells HealthInvestor: “We aim to add our financial and technical resources to these businesses to help continue their growth into the future. This acquisition furthers the breadth of our offering in the home care market and cements Optimo as one of the regions leading community care providers.

"Optimo is focussed on delivering high-quality care that is person-centered, delivered by a well-trained and motivated workforce. We have an acquisition plan for the group with funding available to help support our growth targets in place.”

Richard Walker, chief executive at Optimo commented: “We are pleased to welcome Mayday to the Optimo family. This partnership is the culmination of months of hard work and is a great example of Optimo’s pro-active, market-led approach to acquisition. We look forward to working with the Mayday team into the future and continuing the growth and development built upon over the last 20 years.”

There will be no changes in Mayday's current management structure.

Optimo was advised by Oxygen Enterprise Partners (M&A) and Freeths (Legal). Accountancy firm Crowe UK advised on the Financial Due Diligence. Mayday was advised by GHW Solicitors (Legal).