Prism Medical UK, a manufacturer and provider of specialist healthcare equipment, has undergone a secondary buy-out and been acquired by Limerston Capital from LDC.
Operating from eight UK operations, Prism specialises in moving, handling and bathing equipment for elderly, disabled and mobility disadvantaged clients. 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.
Cattaneo again advised the management having previously advised the management team, led by CEO Stuart Meldrum, on the original MBO backed by LDC in 2014. Over the past four years the business has accelerated its buy and build strategy, increased exports and invested 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. Since the original MBO, turnover has grown by 54 per cent to £40 million with the business now employing 450 people.
Stuart Meldrum, Prism CEO said:
“Limerston Capital’s depth of team, skills and their commitment to supporting Prism Medical convinced us that they are the ideal partners for this exciting next stage in the company’s development. We see a range of opportunities to build on our success by expanding our product and geographic coverage both here in the UK and internationally.
Joao Rosa, Founding Partner of Limerston Capital, said:
“We have been following the sector for some years and identified Prism as a particularly interesting investment opportunity. We are excited to be working with Stuart and his team who have demonstrated their ability to produce success with Prism’s high skilled employees delivering top quality products and customer service. Limerston is looking to support the management team’s ambitious plans for growth both organic and through acquisitions.”
Commenting on behalf of Cattaneo, Gary Hyem said:
“Prism continues to be a market leader in an exciting market place, driven by strong fundamentals. During the past four years Stuart and the team have demonstrated their ability to grow through strategic acquisitions as well as developing the underlying business. We look forward to the success story continuing.”