It supports customers in a range of care environments, such as schools, hospitals and care homes, and provides a full-service that includes the design, installation and servicing of its equipment across the homecare, long-term and acute care markets.
In April 2014, LDC backed the management buyout of Prism to help drive growth at home and overseas. Over the past four years, and in partnership with CEO Stuart Meldrum and his management team, LDC has helped the business to accelerate its buy and build strategy, increase exports and invest heavily in new product development.
This has included the acquisition of four complementary businesses – HME, Smirthwaite, Mackworth and TMEC – which together have strengthened Prism’s presence in the mobility and patient handling markets.
Over the same period, Prism has also built a diversified portfolio of more than 180 products – launching an average of five new products a year – and expanded overseas to new markets including Australia and China. International sales now account for 10 per cent of turnover.
Today, the business employs 450 people and for the financial year ending November 2018 it recorded revenues of £40million, up 54 per cent during LDC’s tenure.
In December 2018, LDC exited its investment in Prism to Limerston Capital.
Our partnership with LDC provided the financial firepower and strategic guidance we needed to kickstart an acquisitive growth strategy and the team’s support has been instrumental in helping us to achieve our ambitions. They have helped to guide a growth journey that has ultimately seen us expand across the UK, ramp up exports and enter new markets segments – all of which means we can bring more of our market leading products to those who need it the most.Stuart Meldrum, Chief Executive, Prism Medical