UK - NVM achieves IRR of 21% on Abermed sale
NVM Private Equity has wholly exited its investment in Abermed, the occupational health and remote medical services company, via a trade sale to International SOS, for an undisclosed amount, generating a return of 2x money and an IRR of 21%.
Aberdeen-based Abermed is a medical services company specialising in the oil and gas industries. With operations throughout the UK and in locations in the Middle East and in Kazakhstan, Abermed has a full offshore medics service and is fully equipped to provide both topside and diving medical emergency services, offering a 24/7 emergency cover service. The company was established in 1983.
NVM originally invested £2.5m to back the management buyout of the business in 2005. The private equity firm helped Abermed grow through strategic acquisitions of small occupation health service businesses across Scotland, widening the network of contracts within the public, maritime, transport, food, hospitality, construction, as well as oil and gas sectors across the region. Abermed now employs 360 staff, an increase from 135 people in 2005.
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