The headline
In the year to June 2026 there were 411 changes of owner among England's home care agencies, equal to about 2.9% of the 14,278 registered with CQC. The median owner is 50, and 19.9% of owners are 60 or over.
changes of owner in the last twelve months Estimate
of registered agencies, the changes of owner in a year as a share of the market Estimate
of changes of owner in the last year were sales of the company, which do not show on the CQC register Estimate
median asking multiple of annual profit, home care agencies Our data
Sources: the Care Quality Commission register of active and closed registrations, 1 September 2026; Companies House register of people with significant control, as at 1 October 2026; Stone & Co Deal Radar. Stone & Co analysis.
What businesses are asking
Asking multiples by size of business, month by month
The median asking price divided by annual profit (EBITDA), for businesses on the market, grouped by how much profit they make.
EBITDA is roughly the profit before interest, tax, depreciation and amortisation. It is the figure the broker states, unaudited and often adjusted.
Above £100k of profit, multiples rise with size. Agencies making £100k to £200k profit ask 3.1 times, and those making £200k to £500k ask 4.0 times. In our view the step comes where the owner no longer has to be the registered manager and the agency runs without them day to day, which is what buyers pay extra for. Too few agencies above £500k profit are advertised publicly to plot. Agencies making under £100k profit ask more on paper, a median of 5.0 times across 24 listings, because when profit is that small the asking price often reflects turnover or the owner's own pay rather than profit, so we leave them off the chart.
Each bar is the median for businesses of that size on the market this month, from our own daily record of businesses for sale. Once we hold three months of figures this becomes a monthly line. A size is only shown once at least eight businesses of that size publish the figures it needs.
Source: Stone & Co Deal Radar, our daily record of care businesses advertised for sale by UK brokers and marketplaces. These are asking prices, not completed prices. A month is plotted as real only when a size band has at least eight listings stating a price and the profit or turnover it is measured against.
Changes of owner
How many are changing hands
In the last four quarters, 39 agencies were taken over by a buyer who registered them with CQC in its own name, and 372 companies running agencies were sold. A company sale counts once however many agencies the company runs. Numbered markers show events that changed the cost of running a home care agency, for context, not as a cause.
Almost every home care agency changes hands as a sale of the company, 94% in the last three years by our count. The CQC registration, the rating and most council contracts sit with the company, so a buyer who takes the shares keeps all three. A buyer who takes only the business has to register with CQC from scratch, which takes months and leaves the agency unrated. A few sales of the business alone at shared office addresses are hard to confirm, so the true share may be slightly lower.
- 1Nov 2023 CQC starts its new single assessment framework, and inspections slow
- 2Mar 2024 Overseas care workers can no longer bring dependants
- 3Apr 2024 National Living Wage rises 9.8% to £11.44
- 4Apr 2025 Employer National Insurance rises from 13.8% to 15%, and the National Living Wage to £12.21
- 5Jul 2025 Recruitment of care workers from overseas closes
- 6Apr 2026 National Living Wage rises to £12.71 and Statutory Sick Pay becomes payable from day one
See these figures as a table
| Quarter | Re-registered by buyer | Company sold | Total |
|---|---|---|---|
| 2023 Q4 | 3 | 69 | 72 |
| 2024 Q1 | 2 | 67 | 69 |
| 2024 Q2 | 7 | 76 | 83 |
| 2024 Q3 | 1 | 63 | 64 |
| 2024 Q4 | 6 | 83 | 89 |
| 2025 Q1 | 6 | 89 | 95 |
| 2025 Q2 | 2 | 79 | 81 |
| 2025 Q3 | 11 | 80 | 91 |
| 2025 Q4 | 13 | 115 | 128 |
| 2026 Q1 | 6 | 94 | 100 |
| 2026 Q2 | 9 | 83 | 92 |
Sources: the Care Quality Commission register of active and closed registrations, 1 September 2026 (businesses re-registered by a new owner); Companies House register of people with significant control, as at 1 October 2026 (sales of the company). Stone & Co analysis.
What they sell for
Asking prices, and what completed sales show
Asking price Our data
Home care agencies for sale in October 2026, as a multiple of annual profit. Middle half 2.9x to 5.1x, 65 listings.
Sources: asking prices from Stone & Co Deal Radar, October 2026.
Who owns them
The people behind the businesses
median owner age, half are older and half younger Estimate
of owners are 60 or over Estimate
of owners are under 40 Estimate
of owner-run businesses where every registered owner is 60 or over Estimate
Owners by age Estimate
People registered at Companies House as having significant control (25% or more) of owner-run businesses, directly or through holding companies, as at 1 October 2026, counted once. Age is worked out from month and year of birth. Owners with smaller stakes are not on the register, so younger family co-owners are likely to be under-counted. Charities, councils, the NHS and larger groups are left out. The share of businesses where every owner is 60 or over counts only businesses whose registered owners hold at least three-quarters of the shares.
Source: Companies House register of people with significant control, as at 1 October 2026, matched to the Care Quality Commission register of active and closed registrations, 1 September 2026.
How long current owners have held it Estimate
Companies House began recording owners in April 2016, so "before 2017" includes everyone who owned the business before then.
Source: Companies House register of people with significant control, as at 1 October 2026.
How the businesses are owned Estimate
| How the business is owned | Businesses | Share of all businesses |
|---|---|---|
| Owned by one or more people, directly | 8,813 | 80% |
| Owned by people through a holding company | 722 | 7% |
| Part of a larger group, or investor-backed | 356 | 3% |
| Run by a sole trader or partnership | 198 | 2% |
| Other | 990 | 9% |
| All businesses | 11,079 | 100% |
A business here is the company, partnership or person registered with CQC to run the agencies. "Part of a larger group" means an investment fund, a listed company or no individual at the top of the ownership chain, or ten or more agencies under one owner. "Other" covers families or founders owning through several companies, businesses held in a trust, charities and not-for-profit companies, councils and the NHS, companies whose owners are not on the public register and a small number that fit none of these. Ownership as at 1 October 2026. Shares may not add to exactly 100% because of rounding.
Sources: Companies House register of people with significant control, as at 1 October 2026; Companies House company records (company type); the Care Quality Commission register of active and closed registrations, 1 September 2026. Stone & Co analysis.
The agencies themselves
A young market, and much of it never inspected
of the 13,437 agencies actively providing care have never been rated by CQC Confirmed
years registered, for the median active agency Confirmed
active agencies registered in the last three years Confirmed
Agencies by how long they have been registered
In our view, buyers pay less for an agency CQC has never inspected, because the rating is the first thing a lender and a council commissioner ask for.
Source: the Care Quality Commission register of active registrations, 1 September 2026. Years registered runs from each agency's registration date. Typical years registered and these bands cover the agencies actively providing care, leaving out 841 registrations marked dormant.
What councils pay for an hour of home care
an hour paid by councils in the South West, against £24.30 across England
rise on the year before
councils in the region
Your region against other benchmarks
| Benchmark | Per hour | Source |
|---|---|---|
| South West average, councils Confirmed | £27.14 | Department of Health and Social Care |
| England average, councils Confirmed | £24.30 | Department of Health and Social Care |
| Homecare Association minimum sustainable price, 2025-26 (rising to £34.42 in 2026-27) Confirmed | £32.14 | Homecare Association |
| National Living Wage, the least a care worker can be paid Confirmed | £12.71 | UK Government |
See every council in the region
| Council | 2024-25 | 2025-26 | Change |
|---|---|---|---|
| Bath and North East Somerset | £25.40 | £27.51 | 8.3% |
| Bournemouth, Christchurch and Poole | £25.48 | £26.75 | 5.0% |
| Bristol, City of | £23.90 | £24.84 | 3.9% |
| Cornwall | £26.42 | £27.34 | 3.5% |
| Devon | £26.96 | £28.08 | 4.2% |
| Dorset | £26.94 | £27.67 | 2.7% |
| Gloucestershire | £27.54 | £28.64 | 4.0% |
| North Somerset | £25.85 | £27.03 | 4.6% |
| Plymouth | £23.12 | £24.36 | 5.4% |
| Somerset | £25.80 | £26.83 | 4.0% |
| South Gloucestershire | £27.52 | £28.90 | 5.0% |
| Swindon | £25.28 | £26.80 | 6.0% |
| Torbay | £25.08 | £25.84 | 3.0% |
| Wiltshire | £27.77 | £29.40 | 5.9% |
| South West average | £25.93 | £27.14 | 4.7% |
Each council's figure is what it told the Department of Health and Social Care it pays for an hour of home care in 2025-26, published August 2025. Region and England figures are the simple average of the councils in each, so every council counts equally whatever its size. Rates run from £18.45 an hour in Harrow to £31.82 in Hertfordshire, and no council's average rate reached the Homecare Association's 2025-26 minimum price of £32.14 an hour.
Sources: Department of Health and Social Care, Market Sustainability and Improvement Fund provider fee returns 2025-26, contains public sector information licensed under the Open Government Licence v3.0; other benchmarks as named in the table.
Our view
Headwinds and tailwinds
Our reading of the market behind these figures. Need for home care is growing and the market is so spread out that groups have plenty of agencies to buy, which keeps buyers active. The pressure sits on council-funded hours, where the rate paid sits well below what the work costs, and that is showing up in the number of agencies closing.
Tailwinds
- About 915,000 adults in England receive home care or supported living, and the UK market is now worth more than £15bn a year.LaingBuisson, June 2026
- Ownership is very spread out: the four largest operators hold 8.1% of addressable market value, making home care the most fragmented part of UK health and social care, in LaingBuisson's view.LaingBuisson, June 2026
- More than 400,000 people are waiting for an assessment, care or a review from their council.ADASS Spring Survey, July 2026
- The number of people aged 85 and over in the UK is projected to double to 3.6 million by 2049.Office for National Statistics, April 2026
- Recruitment has eased across adult social care, with the vacancy rate down to 6.2% in 2025-26, the lowest since 2015-16.Skills for Care, June 2026
Headwinds
- The average council paid £24.30 an hour for home care in 2025-26, against the Homecare Association's minimum sustainable price of £32.14 an hour for the same year, rising to £34.42 in 2026-27.Department of Health and Social Care, simple average of every council; Homecare Association
- Home care has the highest vacancy rate in adult social care at 9.1%, against about 3.8% in care homes, and the overseas recruitment route closed in July 2025.Skills for Care, June 2026
- More agencies closed than opened in England in the year to June 2026, by our count of the CQC register.Stone & Co Home Care Agency Market Index
- The National Living Wage rose 4.1% to £12.71 in April 2026, after the 2025 rise in employer National Insurance to 15%.UK Government
- The Fair Pay Agreement, expected from April 2028, and the Employment Rights Act both add costs that are not yet fully funded.Department of Health and Social Care, July 2026; Homecare Association, December 2025
Sources are named under each point. Where a figure comes from a third-party report, we give the publisher and date and paraphrase it rather than reproduce it.
Openings and closures
Is the market growing or shrinking
In the last four quarters 998 new agencies registered and 1,025 closed, a net loss of 27. Registrations that closed and reopened because the business changed owner are left out. Groups moving five or more services onto a new registration at once are left out too. Estimate
- 1Nov 2023 CQC starts its new single assessment framework, and inspections slow
- 2Mar 2024 Overseas care workers can no longer bring dependants
- 3Apr 2024 National Living Wage rises 9.8% to £11.44
- 4Apr 2025 Employer National Insurance rises from 13.8% to 15%, and the National Living Wage to £12.21
- 5Jul 2025 Recruitment of care workers from overseas closes
- 6Apr 2026 National Living Wage rises to £12.71 and Statutory Sick Pay becomes payable from day one
See these figures as a table
| Quarter | Opened | Closed | Net |
|---|---|---|---|
| 2023 Q4 | 526 | 190 | 336 |
| 2024 Q1 | 424 | 176 | 248 |
| 2024 Q2 | 456 | 146 | 310 |
| 2024 Q3 | 534 | 155 | 379 |
| 2024 Q4 | 320 | 218 | 102 |
| 2025 Q1 | 368 | 208 | 160 |
| 2025 Q2 | 473 | 182 | 291 |
| 2025 Q3 | 366 | 274 | 92 |
| 2025 Q4 | 218 | 298 | -80 |
| 2026 Q1 | 213 | 236 | -23 |
| 2026 Q2 | 201 | 217 | -16 |
Source: the Care Quality Commission register of active and closed registrations, 1 September 2026. Registrations that closed and reopened because the business changed owner are left out, as are batches of five or more re-registrations by one provider in a quarter, which are paperwork rather than real openings or closures.
Your area
The market where you are
home care agencies registered in the South West
changes of owner in the last three years
a year on average, changes of owner as a share of registered agencies, against 2.5% across England
Every region side by side Estimate
| Region | Registered | Changes of owner, 3 years | Average a year, Sep 2023 to Sep 2026, % of registered | Average council rate |
|---|---|---|---|---|
| East Midlands | 1,406 | 106 | 2.5% | £24.20 an hour |
| East of England | 1,803 | 116 | 2.1% | £25.47 an hour |
| London | 2,426 | 178 | 2.4% | £22.44 an hour |
| North East | 421 | 15 | 1.2% | £23.47 an hour |
| North West | 1,573 | 113 | 2.4% | £24.15 an hour |
| South East | 2,480 | 169 | 2.3% | £24.80 an hour |
| South West | 1,294 | 71 | 1.8% | £27.14 an hour |
| West Midlands | 1,592 | 118 | 2.5% | £23.50 an hour |
| Yorkshire and The Humber | 1,233 | 90 | 2.4% | £25.98 an hour |
| England | 14,278 | 1,064 | 2.5% | £24.30 an hour |
The England row counts every home care agency and every change of owner, including 50 registrations and 88 changes of owner that cannot be placed in a region (mostly companies sold that no longer run a registered service), so the regions add up to slightly less than England.
Sources: the Care Quality Commission register of active and closed registrations, 1 September 2026 (services registered, by CQC region); Companies House register of people with significant control, as at 1 October 2026 (changes of owner); Department of Health and Social Care provider fee returns 2025-26, Open Government Licence v3.0 (council rates, simple average of the councils in each region). Stone & Co analysis.
Market structure
Independent owners still run most of it
By size of operator Confirmed
| Size of the owner | Agencies | Share |
|---|---|---|
| Runs one agency | 9,792 | 69% |
| Runs 2 to 5 agencies | 2,823 | 20% |
| Runs 6 to 20 agencies | 970 | 7% |
| Runs 21 or more agencies | 693 | 5% |
Source: the Care Quality Commission register of active and closed registrations, 1 September 2026. Size is the number of agencies each registered provider runs.
By CQC rating Confirmed
| Latest CQC rating | Agencies | Share |
|---|---|---|
| Outstanding | 412 | 3% |
| Good | 6,997 | 49% |
| Requires improvement | 1,000 | 7% |
| Inadequate | 39 | under 1% |
| Not yet rated | 5,830 | 41% |
Source: the Care Quality Commission register of active and closed registrations, 1 September 2026. Latest published overall rating for each of the agencies.
Questions owners ask
Answers, with the figures behind them
In the twelve months to June 2026 there were 411 changes of owner among home care agencies in England, equal to about 2.9% of the 14,278 agencies registered with CQC. 91% of them in that year were sales of the company rather than a new registration. Source: Stone & Co Home Care Agency Market Index.
We can only see asking prices, not final prices. Home care agencies advertised for sale in October 2026 asked a median of 3.9 times annual profit (EBITDA), with the middle half between 2.9 and 5.1 times, across 65 listings.
Yes. In the year to June 2026, 1,025 agency registrations closed and 998 opened, leaving out registrations that closed and reopened because the agency changed owner.
The median owner of an English home care agency is 50, 8 years younger than the median care home owner. 19.9% are 60 or older and 15.5% are under 40.
The average council in England paid £24.30 an hour for home care in 2025-26, up from £23.03, against the Homecare Association's minimum sustainable price of £32.14 an hour for 2025-26 (£34.42 for 2026-27). The council average was highest in the South West at £27.14 and lowest in London at £22.44. Source: Department of Health and Social Care provider fee returns, simple average of every council.
37.8% of the 13,437 home care agencies actively providing care on the CQC register of 1 September 2026 had never received a rating. Counting every registration, including 841 marked dormant, the figure is 40.8%.
Where the figures come from
Sources
- The Care Quality Commission's register of every active and closed registration in England, 1 September 2026.
- Companies House records of who owns and runs each business, as at 1 October 2026.
- Our own daily record of care businesses advertised for sale by brokers and marketplaces across the UK.
- The Department of Health and Social Care's Market Sustainability and Improvement Fund provider fee returns, 2025-26, under the Open Government Licence v3.0.
- Published reports named under each headwind and tailwind: LaingBuisson, ADASS, Skills for Care, the Homecare Association, the Office for National Statistics and the Department of Health and Social Care.
How we count a change of owner
- Taken over and re-registered. A registration closes and the same agency reopens under a different provider at the same address within a few months. Re-registrations by the same owners, councils and charities moving homes between their own entities are left out.
- Company sold. Companies House shows an owner with 25% or more leaving and a new one arriving within 60 days, and the ultimate owners before and after are different. Restructures under the same owners and transfers between people sharing a surname are left out. A company sale counts once however many agencies it runs.
- Counted once. Where a company is sold and the buyer then re-registers its agencies, the deal is counted once, as a re-registration (2 such deals in the last three years).
- Limits. Owners can report changes to Companies House late, so the latest quarters may rise as filings arrive. Sales of a parent group above the operating company are not captured, and spouses with different surnames can be counted as a sale.
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Using these figures
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Source: Stone & Co, Home Care Agency Market Index, stoneadvisory.co.uk
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