Wheelchair services provider, AJM Healthcare, has undergone a management buyout backed by WestBridge Capital for an undisclosed amount.
The investment firm plans to work alongside the existing senior management team, led by Mark Perress, who has been running the business for over seven years.
Tim Whittard, investment director at WestBridge Capital, declared that AJM is now in a “strong position to achieve significant future expansion of its services”.
“AJM is an established, well-respected and well-run business providing a number of essential outsourced services under contract to the NHS and local authorities.
“We are delighted to have backed this highly experienced management team, who we are confident will steer the business to its next level of growth.”
AJM’s CEO, Mark Perress, added: “We were highly impressed with the WestBridge team from the outset.
“We believe that our relationship will deliver a winning combination of management, operational and financial expertise that will work for the benefit of AJM, its service users and customers.”
James Wakefield, founding partner at WestBridge Capital, said: “This is exactly the type of business we like to invest in with recurring income streams, fixed-term contracts and a track record for the provision of quality service.”
AJM provides mobility equipment to the NHS, local authorities and individuals across the UK, serving more than 2m people in total.
It was the first company in the UK to be granted CECOPS accreditation for integrated wheelchair services, widely acknowledged as the gold standard for quality in the sector.
AJM employs over 150 people, ranging from specialised therapists to field service engineers.