BREAKING: NRS Healthcare completes multi-million-pound acquisition of online retailer Complete Care Networks
NRS Healthcare, a provider of community healthcare equipment and services to the NHS and local authorities, has acquired Lancashire-based online retailer Complete Care Networks (CCN).
Supplying a wide range of mobility and daily living aids for children and adults, CCN retails through a range of online channels, including its own online shop (Complete Care Shop), Amazon and eBay.
In addition, the company is an official supplier of equipment to the NHS and has seen continued growth in the mobility market.
The terms of the transaction were not disclosed but, according to Welsh corporate advisory firm Gambit who advised the shareholders of CCN, included a multi-million-pound payment at completion together with an earn-out based on the future trading performance of the CCN business.
Jerry Benson, CEO of NRS Healthcare, told THIIS: “We are very pleased with the acquisition of CCN. Their product range complements ours well and their access to the consumer provides us with exciting options for the future.”
Simon Marsden, Director of Gambit who was part of the team advising the sale, commented: “We are delighted to have acted for the shareholders of CCN in negotiating and structuring this transaction. CCN has achieved significant growth in a competitive market and in NRS has secured a highly complementary partner with the financial backing to take the business through the next stage in its growth.”
An outsourced supplier of community healthcare equipment and services, NRS was subject to a management buy-out backed by LDC in 2013, who exited the business in 2014, retaining a minority stake, when further funding was secured from H2 Equity Partners.