Clearwater UK has advised private equity firm LDC on its sale of Prism Medical UK (Prism), manufacturer and provider of specialist healthcare equipment, to Limerston Capital.
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. Prism provides a full-service that includes the design, installation and servicing of its equipment across the homecare, long-term and acute care markets.
LDC first backed the management buyout of Prism in April 2014 to help drive growth at home and overseas. Over the past four years, and in partnership with CEO Stuart Meldrum and his management team, LDC has helped the business to accelerate its buy and build strategy, increase exports and invest 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.
Today, the business employs 450 people and for the end of 2018 financial year it recorded revenues of €44.5m, up 54% during LDC’s tenure.
