Milbrook and its subsidiaries Ultimate Healthcare and Consolor acquired as owner steps aside
Continuing the trend of private equity firms gaining a foothold in the community equipment space, Millbrook, together with its subsidiaries Ultimate Healthcare and Consolor, have been acquired by Cairngorm Capital Partners.
Established in 1995, Millbrook is an outsourced provider and manufacturer of equipment, assessment services and home-based adaptations that help people live independently at home for longer.
Headquartered in Southampton and operating from 29 service centres across the UK, the company provides community and mobility-related services on behalf of local authorities and the NHS, including community equipment services, wheelchair services, Home Improvement Agency and assistive technology.
Stating that acquisition was prompted by the retirement of Millbrook’s founder and majority owner Colin Croll, the private equity capital will help it to accelerate its growth and advance its position within the assisted living industry, according to Millbrook.
Colin Croll, owner of Millbrook, commented: “I am extremely proud of all that we have achieved at Millbrook to date – we are performing strongly, have established a terrific management team and are well-prepared for the future. Consequently, I believe that this is the appropriate time for me to step aside and for Millbrook to progress with new owners, who will ensure that it fulfils its potential.
“Cairngorm Capital is the right partner for the management team and will continue to focus on delivering excellent service to all of our key stakeholders, particularly our service users.”
In addition to Millbrook, the private equity firm also acquired its subsidiaries Ultimate Healthcare, a specialist pressure care manufacturer, and the recently acquired Consolor, a manufacturer of specialist seating and mobility assessment service provider.
According to Millbrook, Cairngorm Capital’s investment and strategic guidance will enable Phillip Campling, now Chief Executive Officer, together with Millbrook’s management team to facilitate further expansion, increase market share and extend the company’s range of services.
“Millbrook is at a really exciting point in its development and is ready to capitalise on numerous growth opportunities,” commented Phillip Campling.
“We have ambitious goals to fulfil but Millbrook has world-class foundations, with strong investor support, first-rate employees and a well-deserved reputation for delivering high quality and responsive services. I look forward to the next phase of its development.”
As part of the acquisition, Mike Kerins, the former CEO and President of industrial distribution firm Cromwell Group, joins Millbrook as non-executive Chairman, bringing invaluable experience of developing and growing businesses.
In addition, Victor Vadaneaux, a Cairngorm Capital Operating Partner, joins Millbrook as a Non-Executive Director to help the management team drive operational improvements, with expertise in business transformation gained at Advent International, GE Capital and McKinsey & Co.
The transaction marks Cairngorm Capital’s first entry into the assisted living sector, which the private equity company maintains has been a long-held objective of the firm’s, which was driven by the appointment of Dr Amit Thaper as Investment Director in April 2017.
An experienced orthopaedic surgeon with the NHS for several years, Cairngorm Capital emphasises that Dr Thaper will use his knowledge and expertise to help Millbrook to respond proactively to the challenges presented by an ageing population and to enhance service users’ experiences.
Continued investment interest in community equipment providers
The acquisition of Millbrook follows a recent number of purchases in the community equipment sector in the last 12 months, with NRS Healthcare having been acquired in a secondary buy-out in March 2019 after reporting an annual turnover of over £165million, whilst AJM Healthcare completed a private equity-backed MBO in September in 2018.https://thiis.co.uk/milbrook-and-its-subsidiaries-ultimate-healthcare-and-consolor-acquired-as-owner-steps-aside/https://i1.wp.com/thiis.co.uk/wp-content/uploads/2019/07/Hertfordshire-Wheelchair-Service-Millbrook.jpg?fit=1000%2C667&ssl=1https://i1.wp.com/thiis.co.uk/wp-content/uploads/2019/07/Hertfordshire-Wheelchair-Service-Millbrook.jpg?resize=150%2C150&ssl=1Mergers & AcquisitionsNewsroomSupplier Newsacquisition,AJM Healthcare,Caringorm Capital Partners,Colin Croll,community equipment,consolor,local authorities,Millbrook,Millbrook Healthcare,NHS,NRS Healthcare,partnership,private equity,ultimate healthcareContinuing the trend of private equity firms gaining a foothold in the community equipment space, Millbrook, together with its subsidiaries Ultimate Healthcare and Consolor, have been acquired by Cairngorm Capital Partners. Established in 1995, Millbrook is an outsourced provider and manufacturer of equipment, assessment services and home-based adaptations that help...Calvin BarnettCalvin Barnettcalvin@thiis.co.ukAdministratorTHIIS Magazine