Harrogate-based Beaucare Medical, a large independent supplier of mobility, medical, nursing and hygiene supplies, has announced the successful completion of a management buy-out (MBO).
The deal was supported by £3m in funding from Santander Corporate & Commercial.
Jonathan Brown, founder of Beaucare Medical Ltd and boss of its sister retail company, Change Mobility, said that the MBO recognises the management’s commitment to Beaucare.
“I’m delighted to be able to hand over the reins to a team who I know will continue to drive the business forward. The funding and support from Santander has been invaluable throughout the MBO process and we look forward to working with them further,” he said.
The MBO team includes Heather Mawrey, newly appointed as managing director, having been with the firm for 11 years, and Joseph Storr, the firm’s new commercial finance director.
Storr joined Beaucare in 2015 having a background in finance and working within the healthcare and manufacturing industries.
Brown will continue to play an active role in the business, moving to the new position of chairman.
Mawrey said: “It’s fantastic to have this opportunity to take the company onto its next stage. Plans for expansion of our distribution network are key as we uphold our high-level of customer service. Our product support and servicing division continues to grow, and maintaining our long-standing relationships with customers will continue to be vitally important to us.”
Alastair Morris, relationship director at Santander Corporate & Commercial, added: “Beaucare Medical has experienced excellent growth and is strategically targeting new markets in the UK to add to its already impressive portfolio. As the largest supplier of medical, nursing and hygiene supplies to private care homes and hospitals, and with a strong history of growth, we are delighted to be supporting Heather and Joe as they look to drive the business forward.”
Beaucare predominately supplies care homes and hospitals but is a growing player in the mobility market. Change Mobility opened in Harrogate recently and now aims to replicate Beaucare’s success in the retail environment.