Herida Healthcare acquires Select Medical as the business targets “aggressive growth”
Leeds-based pressure care and moving and handling manufacturer Herida Healthcare has completed its first acquisitions with Select Medical Ltd and Select Medical Holdings Ltd.
The deal was completed yesterday in what is deemed the first in a series of expected acquisitions over the next five years.
Blackburn based Select Medical manufacture, supply, clean and repair a wide range of pressure relieving mattresses and cushions from its Blackburn site. The new Group will boast joint revenues of £17m and strong double-digit EBITDA for the current period ending March 2021.
Sean Spencer, Managing Director of Herida Healthcare, who last year said that he will be implementing an “aggressive growth strategy” as the firm’s new MD, says that the acquisition will bolster the service and repair requirements for Herida’s rapidly growing business:
“Select has been a target of Herida for some time due to its well-respected product offering, service capabilities and respected brands. The 20-year-old business has built a very stable platform and the incredible synergies between the two businesses will offer a wider product range and value for money to our much-valued customers on both sides.
“In summary, it’s business as usual for both sides and as such we can provide re-assurances to all existing customers that not much will change in terms of their lines of communication and customer service offering.”
David Elstone will remain as Managing Director at Select, working with Sean Spencer to capitalise on the synergy of two highly experienced teams, and growing the business via extended manufacturing facilities from the Herida site in Leeds, West Yorkshire.
David commented “We are of course delighted with the partnership. It is a great fit and when Herida first approached us with the proposition, we were immediately excited to become a stronger unit in parallel.
“Unfortunately, the activities of COVID-19 delayed this project, but we are all now focused on the task in hand and will be knuckling down in the coming weeks and months, so that we can offer the enhanced product and service offering across the group”.
Adding an unrivalled surfaces portfolio and comprehensive service support to the Herida Group, creates a formidable offering.
Exiting owner and founder Ray Booth said that the acquisition is a big plus for Herida Healthcare’s staff and customers, who will benefit from being part of a larger group with a wider portfolio.
He said: ”The deal ensures a continuation and commitment to C3, with a collective objective for becoming even better at what we do.”
