Mon, 11 Feb 2013 | BUSINESS SALE
Buyers are being sought for a wheelchair supplier to the NHS, Medequip Assistive Technology.
The business, which is part of Siddall & Hilton Group, is in talks with advisers at corporate finance company Clearwater, about seeking a buyer.
While not confirmed, it is believed Medequip will achieve £80 million in a sale. Several private equity firms are thought to be attracted to the business, because of its placing in the healthcare industry which, with increasing numbers of elderly in the UK, is expected to grow substantially.
Founded in 1898, Siddall & Hilton itself focuses on the production of security fencing for use by prisons, secure hospitals and other high security sites.
Medequip supplies and services a wide range of equipment including medical, mobility, sensory, lifting, hoisting and continence supplies to the NHS, charities and the social services. It has over 30 contracts across Britain, according to its website.
In Medequip’s last recorded accounts for the year to December 2011, revenues rose by over 25 per cent to £59 million, with pre-tax profits reaching £3 million, showing an increase of 20 per cent.
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