LDC-backed Prism bolts on TMEC

LDC acquired Prism from TSX Venture Exchange in April 2014 in a £30m deal. The original acquisition was supported by a senior debt package and growth capex facilities from HSBC.

At the time, LDC stated the business would undertake a buy-and-build strategy with plans to further develop its product offering and expand into Europe. The acquisition of TMEC will not only add to Prism's stair-lift product offering but also increase its sales capabilities in the Midlands region of England.

The deal marks the company's second bolt-on under LDC's tenure, having acquired Handling Moving and Ergonomics in September 2014. As a result of both purchases, Prism's headcount has increased by 10% to around 330.

Company
Headquartered in Hinckley, Leicestershire, TMEC is a provider of mobility equipment, focusing primarily on the distribution and installation of stair lifts.

People
Andy Lyndon is a director at LDC. Stuart Meldrum is chief executive of Prism.

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• Topics
• UK / Ireland
• Healthcare
• Expansion
• United Kingdom
• LDC