A consortium consisting of Sheikh Holdings, Belgravia Investments, Kensington Capital and THCS agreed to acquire CareTech, a service provider of individualised care and support within a person-centred approach, for $1.1bn. "On behalf of the CareTech Independent Board, we are pleased to have reached agreement on the terms of a recommended cash offer by Bidco. We believe that this is in the best interests of our investors and other stakeholders, with the potential to deliver a number of strategic opportunities for the business through private ownership by Bidco. As a consequence of the offer, CareTech's founders will remain the controlling shareholders of the business. We believe this will allow the existing care-focused culture of the organisation to continue and enable CareTech to continue to deliver high standards of care to its service users," Jamie Cumming, CareTech Non-Executive Director.