Management buy-out of AJM Healthcare backed by private equity company
AJM Mobility Ltd (t/a AJM Healthcare), a provider of mobility equipment and maintenance services to the NHS, Local Authorities and private customers across the UK, has undergone a successful MBO supported by WestBridge Capital.
The mobility company is one of the leading integrated wheelchair service providers for the NHS, delivering services to a population of over 2 million, and was the first company in the UK to be granted CECOPS accreditation for integrated wheelchair services.
Typically investing in medium sized enterprises, the private equity firm noted AJM Healthcare’s potential for expansion of its services and the security of recurring revenue streams.
WestBridge will now work closely with the existing senior management team led by Mark Perress, who has been running the business on a day-to-day basis for over seven years, as the company looks for growth.
Tim Whittard, Investment Director at WestBridge Capital, said: “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. It is now in a strong position to achieve significant future expansion of its services.
“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 – building on its strong reputation for excellent service to its loyal customer base. We look forward to helping take these considerable skills to the wider UK market.”
Alongside running its wheelchair services contracts and community equipment provision across London, Kent, Essex, Sussex and Surrey, AJM Healthcare also operates MyHealth Mobility (formerly AJ Mobility), an online retail outlet offering a full range of community equipment, mobility and independence solutions direct to individual customers.
Commenting on the MBO, AJM’s CEO, Mark Perress: “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, added: “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.”
Operating since 1983, AJM employs over 150 people, ranging from specialised therapists to field service engineers.