UNITED KINGDOM / AGILITYPR.NEWS / January 08, 2020 / Limerston Capital backed Prism Medical Healthcare (Prism Medical) has completed the acquisition of Harvest Healthcare Ltd (Harvest) for an undisclosed sum.
Prism Medical supports customers in a range of care environments, such as homes, care homes and hospitals, and provides a full-service that includes the design, installation and servicing of its equipment across the homecare, long-term and acute care markets. The group operates from 8 UK locations, employs circa 450 highly skilled staff delivering a portfolio of 180 products.
South Yorkshire based Harvest offer a comprehensive range of pressure care equipment from profiling beds, static and active mattresses and cushions through to moving and handling equipment as well as a full range of services including replacement, servicing and repair.
Since Limerston Capital invested in Prism Medical in December 2018, the group has extended its presence in the UK with the acquisition of patient lifting and bathing supplier Assured Healthcare in Scotland and extended its products range with the acquisition of the moving and handling manufacturer Care-ability. The acquisition of Harvest allows Prism Medical to enter the pressure area care market and substantially increases the group’s reach in care homes, hospitals and loan stores.
Limerston Capital said: “Prism Medical has seen considerable investment and solid progress since our acquisition, benefiting from both strong organic growth and a successful acquisition strategy. This acquisition is another step in our plan to build the leading manufacturer and service provider of mobility and care equipment.”
Stuart Meldrum, chief executive of Prism Medical said: “The investment from Limerston Capital has been vital to our growth strategy. This acquisition will significantly increase the size of our business, and demonstrates the commitment of our investors, Limerston Capital, to the continued growth of Prism Medical. We would like to thank our financing banks HSBC and Investec for the continued support of our growth strategy.”
About Us
Limerston Capital
Founded in 2015, London based Limerston Capital pursues control investments in UK lower mid-market companies and seeks to create value through the firm’s operationally focused model. The firm targets businesses with EBITDA of between £5 million and £15 million, that have a solid value proposition, but have potential for operational improvements, have mispriced underlying returns on capital or provide opportunities for strategic repositioning and consolidation. Limerston Capital’s fully integrated team of operating partners participates in all aspects of deal origination, value creation and portfolio management.
Prism Medical
Prism Medical are providers of specialist moving, handling and bathing equipment for elderly, disabled and mobility disadvantaged clients in a range of care environments, from community care to schools, hospitals and care homes. With over 30 years of experience in designing, developing, manufacturing, providing and installing bespoke mobility and care solutions, Prism Medical have an established track record of working closely with carers and their clients across the UK. Limerston Capital acquired a controlling stake in the company in December 2018.
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