Thu, 21 Mar 2013 | MBO/MBI
Findel has agreed to a management buyout of its healthcare division, which will be backed by private equity firm LDC.
The retailer's healthcare division, NRS Healthcare, is an outsourced provider of community healthcare equipment and delivers its services to the NHS and the local authorities. LDC, whose parent company is the Lloyds Banking Group, is hoping to support and gain from the expansion of NRS Healthcare, which Findel has said it is not willing to invest the resources in to maintain its growth.
The MBO will go through for around £24 million and is due to be completed by 16 April, subject to shareholder approval. The buyers are hoping that the acquisition will help to drive NRS Healthcare's “organic growth through product portfolio expansion and accelerate the company's acquisition strategy”.
John Garner, director and head of Yorkshire and the North East for LDC, led the deal along with investment director Dale Alderson. Mr Alderson commented: “The increase in residential and domiciliary care provision, which has been driven by an ageing population, the transfer of care from the public to private sector and rapid technological advancement, has supported strong growth in the community healthcare equipment industry.”
NRS Healthcare recorded annual revenues of £76.8 million for the financial year ending 30 March 2012.
____________________________________________________________________________
Related articles:
Findel discussing healthcare division sale
Read more about acquisition strategies
Represents an opportunity for an acquirer seeking a three surgery, predominantly private dentistry located in Pembrokeshire.
FREEHOLD
Predominately NHS dental surgery with scope for physical expansion, private growth and extended services.
FREEHOLD
Represents an opportunity for a dental practice acquirer seeking a seven surgery mixed dentistry operating since 1978.
FREEHOLD
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.