Case study

NRS: Long-term support and success

Private equity helped former Findel plc healthcare division achieve rapid growth under its own steam.

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Sector
  • Healthcare
  • Retail & consumer

NRS is a market leading and award winning provider of products and services designed to support independent living.

Employees: 734

Deal type
  • Carve out
Deal value

£24m

Exit date

10/12/2014

Current
  • Reinvested
Re-investment date

10/12/2014

LDC Region

NRS Healthcare is an award-winning, market-leading provider of products designed to support independent living for those with mobility issues.

With 70 years’ experience, NRS’ comprehensive range includes daily living aids, mobility equipment, disability equipment and therapeutic resources.

Carving out growth

In 2013, LDC backed the acquisition of NRS Healthcare, the healthcare division of home-shopping group Findel plc, in a £24m carve-out. The management team chose LDC to help the company achieve organic growth through business improvement.

The team saw immediate results, with revenues increasing 46 per cent in only a year. The business also increased its staff from 553 to 734 employees over the same period.

This was all thanks to the investment in infrastructure and support that LDC offered the management, as the business’ model transformed to be a full-service provider.

Continued support

We completed a partial exit from NRS in 2014, achieving a 2.8x return on investment, after the management secured further investment from H2 Equity Partners.