NRS Healthcare, which holds wheelchair and community equipment services across the UK, has exchanged hands just over four years after it was acquired by a private equity firm.
Graphite Capital confirmed to AMP that it purchased the £165m healthcare firm from H2 Equity Partners for an undisclosed amount in a secondary buy-out.
H2 Equity Partners typically invests in companies for around five years and bought part of another investor’s stake in NRS in 2013 after a £24m cash injection from private equity house, LDC.
Graphite Capital has a broad portfolio that encompasses home care and care home firms and claims to make just three or four investments each year, but it is as of yet untested in the mobility equipment market.
Leicestershire-based NRS operates 20 depots across the UK and grew its profits by around £1m in its last financial year.
In the year ending 31 March 2018 the company successfully tendered and re-tendered for a number of ICES and wheelchair service contracts.
In September, NRS acquired online mobility retailer Complete Care Network (CCN) in a multi-million pound deal.
NRS Healthcare’s revenues have increased steadily in the last few years with a sizeable 15% rise in 2016/2017.