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iCON – Acquisition of care home group in the UK

iCON Infrastructure III has acquired Choice Care Group from investment trust Caledonia Investments. Choice Care Group provides residential and supported living services for people with learning disabilities and mental health conditions and has a portfolio of around 514 beds in the UK. iCON is buying a 98.3% stake in the company, in a deal that gives Choice Care an enterprise value of GBP 152.5m. The remainder of the company will be held by management.