The purchase means that ILS is now one of the largest providers of care at home facilties in Scotland, and has a predicted annual turnover in excess of £10m.
The deal was backed by ISIS Equity Partners which has funded the company since September 2005.
ILS also received a loan from the Bank of Scotland Corporate.
Kevin Scullion, managing director of ILS, said: “Both ILS and Home Concern are focused on delivering the highest standards of care and support to people in their own communities.
“This acquisition will enable the enlarged business to more fully meet the needs of local authorities who have to evidence ‘best value’ - the commissioning of high quality services at a competitive price.
“The combined group will also have the strength and capacity to support the majority of local authorities in Scotland whilst building our presence in new geographic areas.”
ILS's says that it plans to grow both organically and through further acquisitions in Scotland and in the north of England.
ISIS has previous experienced investor in the healthcare sector, having also supported companies such as the Care Management Group.
© Crimson Business Ltd. 2006
