LDC back acquisition of NRS Healthcare

2 May 2013

Related Info

Key People

John Garner

Sectors

Regions

Leading mid-market investor LDC has backed the acquisition of NRS Healthcare, the healthcare division of listed multi-channel retailer Findel PLC (MAIN: FDL), for a gross consideration of £24 million.

NRS, which employs 500 full time equivalent staff, is a market leading outsourced provider of specialist community healthcare equipment and services to the NHS and local authorities.

The Leicestershire-based company’s products and services help people with mobility issues to be self-sufficient within the home to either delay or prevent more expensive residential or acute care, and speed up departure from such environments.

With the support of experienced private equity firm LDC the buyout will enable NRS Healthcare to drive its organic growth through product portfolio expansion and accelerate the company’s acquisition strategy. For the financial year ending 30 March 2012, NRS Healthcare recorded annual revenues of £76.8 million.

NRS Healthcare is a quality business with a well-respected management team, which we are keen support and help deliver its organic and acquisitive growth ambitions

Dale Alderson

Investment Director

John Garner, Head of Yorkshire and the North East, and Investment Director Dale Alderson, led the deal for LDC.

Garner 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.

Alderson added: “NRS Healthcare is a quality business with a well-respected management team, which we are keen support and help deliver its organic and acquisitive growth ambitions.”

The Acquisition Finance team at Yorkshire Bank led by Mike Selina and Ruth Cherry provided a package of senior debt, including a revolving credit facility, to support the buyout.

Catalyst advised management, whilst legal advice was provided to LDC by Pinsent Masons. The Manchester office of Rothschild (Bod Buckby) advised the vendor.

Issued on behalf of LDC by Citypress.

Press information for LDC:

Martin Currie

Citypress

T. 0161 235 0310 / 07976 291532

E. martin.currie@citypress.co.uk 

Alastair Henry

Citypress

T. 0161 235 0320 / 07738 206847

E: alastair.henry@citypress.co.uk

Article Footnotes

Notes to Editors:

  1. LDC is part of the Lloyds Banking Group and is authorised and regulated by the Financial Conduct Authority.
  2. LDC back ambitious management teams from UK-based companies seeking between £2m and £100m of equity for management buy-outs, institutional buy-outs or development capital transactions.
  3. LDC invests in a broad range of sectors and has particular experience in Construction & Property, Financial Services, Healthcare, Industrials, Retail & Consumer, TMT, Travel & Leisure and Support Services.
  4. LDC has a UK regional network alongside an international operation based in Hong Kong
  5. For further information visit www.ldc.co.uk

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