NRS Healthcare has acquired Complete Care Networks (“CCN”). Based in Lancashire, CCN is an on-line retailer of disability equipment and mobility aids for adults and children which help users to be self-sufficient in the home. Its products are sold through leading online channels such as Amazon and eBay and direct to consumers through its own website, in addition to being an official supplier to the NHS.
NRS is a market-leading outsourced provider of specialist community healthcare equipment and services to the NHS and local authorities. In 2013 the business was the subject a management buy-out backed by LDC who subsequently exited the business in 2014, retaining a minority stake, when further funding was secured from H2 Equity Partners.
Gambit advised the shareholders of CCN, which included a corporate shareholder and members of the ongoing management team, in negotiating, structuring and project managing the entire transaction process. The terms of the transaction were not disclosed but included a multi-million pound payment at completion together with an earn-out based on the future trading performance of the CCN business.
The Gambit team was Partner, Frank Holmes and Director, Simon Marsden.
Simon Marsden, Director commented, “We are delighted to have acted for the shareholders of CCN in negotiating and structuring this transaction. CCN has achieved significant growth in a competitive market and in NRS has secured a highly complementary partner with the financial backing to take the business through the next stage in its growth. This transaction further highlights Gambit’s strong track record in securing private equity investment and partners for its clients throughout the UK.”