Synova Capital has exited care services business Clearwater to trade buyer Salutem Healthcare. While financial details were not disclosed, the firm saw a “strong return”, Real Deals understands from a person familiar with the deal.
Synova acquired Clearwater in 2009.
The business provides specialist care services, both residential and non-residential, for people with severe learning disabilities. It operates in the south east and the Midlands.
Salutem was created earlier this year from a merger of two care businesses, Pathways Care Group and Modus Care. It offers a range of residential care services for both children and adults with a wide range of learning disabilities and associated needs. It has 54 care homes across the UK.
Clearwater will be merged with Salutem’s existing operations.
Synova announced the opening of a New York office earlier this week.