Direct Healthcare Group’s growth recognised following private equity investment
Having more than doubled its turnover three-years after securing private equity investment, Direct Healthcare Group’s (DHG) Management Team has been awarded Wales Growth Management Team 2019.
Backed by private equity investment firm NorthEdge Capital in April 2016, DHG has grown substantially over a relatively short period since completing its management buy-out, with its revenue figure rising from £10.2million to £25million this year.
Largely, the manufacturer of pressure care and specialist seating solutions, as well as nationwide bariatric equipment rental service provider, has focused on an acquisition-based growth strategy following its management buy-out.
DHG acquired bariatric specialists Nightingale in June 2016, seating specialists Kirton Healthcare in May 2017, Karomed’s Transflo brand in February 2018, pressure care specialist Qbitus in May 2018 and bariatric rental provider Poshchair Medical in December 2018.
Alongside its five bolt-on acquisitions, the company has consolidated its manufacturing capabilities, relocating Kirton’s seating production in 2018 from Suffolk to DHG’s 100,000 sq. ft. factory in Caerphilly, South Wales and now has increased its workforce from 60 to 200 people.
Having achieved such significant growth, the British Private Equity & Venture Capital Association (BVCA) – the industry body and public policy advocate for the private equity and venture capital industry in the UK – awarded DHG’s Management Team the Growth Management Team of the Year for Wales prize at the BVCA Management Team Awards 2019.
Revealed and presented at a ceremony in Bath, the award, produced in association with Grant Thornton UK LLP, recognised the company’s team as one of the most outstanding in the UK, with judges praising DHG’s ability to achieve growth in an increasingly competitive market.
Judges’ commented: “Graham Ewart and his team did an outstanding job in 2018, delivering a significant increase on EBITDA driven by both organic growth and strategic acquisitions. We were particularly impressed with Direct Healthcare Group’s ability to grow given the increasingly competitive environment and NHS budget constraints. The management team is experienced, passionate and ambitious, and is clearly dedicated to delivering award-winning, innovative healthcare solutions.”
Commenting on the award, Graham Ewart, CEO of DHG, commented: “It has been a great honour for our business to have been awarded, not only for being recognised as making strategic decisions that have led to growth, but as this creates a confidence that fills our workforce regarding the future direction that Direct Healthcare Group will take.”https://thiis.co.uk/direct-healthcare-groups-growth-recognised-following-private-equity-investment/https://i0.wp.com/thiis.co.uk/wp-content/uploads/2019/06/Direct_Healthcare_Group.jpg?fit=1000%2C667&ssl=1https://i0.wp.com/thiis.co.uk/wp-content/uploads/2019/06/Direct_Healthcare_Group.jpg?resize=150%2C150&ssl=1Awards & AchievementsNewsroomSupplier Newsacquisition,BVCA Management Team,DHG,Direct Healthcare Group,EBITDA,Graham Ewart,Karomed,Kirton Healthcare,Nightingale,NorthEdge Capital,Poshchair Medical,Pressure Care,private equity investment,Qbitus,Specialist seating,TransfloHaving more than doubled its turnover three-years after securing private equity investment, Direct Healthcare Group’s (DHG) Management Team has been awarded Wales Growth Management Team 2019.Backed by private equity investment firm NorthEdge Capital in April 2016, DHG has grown substantially over a relatively short period since completing its management...Calvin BarnettCalvin Barnettcalvin@thiis.co.ukAdministratorTHIIS Magazine