Tue, 03 Sep 2019 | BUSINESS SALE
Business growth specialists Owner Venture Managers (OVM) has snapped up Therapy Equipment Limited in a multimillion-pound deal facilitated by sale and acquisition specialists Watersheds.
Therapy Equipment is the NHS’s largest supplier of suction and oxygen instruments for use in hospitals, and is anticipated to grow internationally under new ownership.
Established in 1983 by Chris Munn in Potters Bar, Hertfordshire, the business presently employs 28 people and is renowned for its product and service quality. It is for this reason that it caters to nearly all of Britain’s 152 NHS trusts.
As part of its portfolio of products, Therapy Equipment Ltd manufactures regulators, flowmeters, and its suction controllers which are normally found attached to modern hospital bed units.
Steve Munn, son of Chris Munn, will continue on as the managing director of Therapy Equipment, and commented on the acquisition: “Each day our equipment is helping keep thousands of people alive in the UK’s hospitals, so its quality, durability and reliability have always been our number one priority.
“We were looking to ensure the business was purchased by someone who would share our passion for its importance, and who would also have the strategic vision for the future potential of the business.
“Watersheds, uniquely, base their fees on a successful outcome. I have been led extremely proficiently by the team at Watersheds and have been continuously impressed by their tenacity and drive to achieve what we engaged them to do – get a purchaser with a strong vision about how to get the best future growth for this business. Their professionalism was clear from day one and they demonstrated their commitment every day since to get us the best possible sale.”
The business serves a large catchment area and has a loyal client base of over 20,000 registered clients. It is growing by 175+ new per month.
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