LDC backs NRS Healthcare MBO

The transaction is still subject to shareholder approval and is expected to be completed by mid-April. Once carved out of Findel, NRS Healthcare intends to drive its organic growth through product portfolio expansion; it will also look to accelerate its acquisition strategy.

Yorkshire Bank provided a senior debt package to support the buyout, including a revolving credit facility. The management team was advised by corporate finance house Catalyst, while Findel was represented by Rothschild.

LDC simultaneously announced the sale of its portfolio company MB Aerospace in a secondary buyout led by Arlington Partners, as well as an investment in the buyout of oil & gas services business Ramco.

Company
Leicestershire-based NRS is an outsourced provider of specialist community healthcare equipment and services, catering to the NHS and local authorities. The company's products and services aim to help people with mobility issues to be self-sufficient within their home.

NRS recorded a £76.8m turnover last year, with a workforce of 500 full-time equivalent (FTE).

People
John Garner and Dale Alderson led the deal for LDC. The Yorkshire Bank team was led by Mike Selina and Ruth Cherry.

Advisers
Equity – Pinsent Masons (Legal).
Vendor – Rothschild, Bod Buckby (M&A).
Management – Catalyst (Corporate finance).

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• Topics
• Buyouts
• Healthcare
• UK / Ireland
• Mid-market buyout
• LDC