Clearwater International has advised private equity house NorthEdge Capital (NEC) on the MBO of Direct Healthcare Services (DHS).
South Wales-based DHS is a specialist British manufacturer of pressure area care solutions with innovative technologies, designed in partnership with leading clinical and healthcare establishments. DHS works closely with tissue viability nurses to design and manufacture mattresses, cushions and overlays to enhance the quality of patient care across the UK, for acute and community NHS trusts.
Private equity house NEC has taken a majority stake in the company and Michael Joseph, Chairman of NEC, will join the Board. DHS will use NEC’s investment to further its commitment to core intellectual property, expand the team, pursue a buy-and-build strategy, and accelerate growth into international markets.
Clearwater International advised NEC on the MBO, led by CEO Michael Reeves, directors John Clarke and Ramesh Jassal, and associate James Kennedy.
“The partnership with NorthEdge is a significant milestone for DHS. We are fortunate to be working with a team which not only shares our vision for business growth, but fully supports our unremitting dedication to delivering the best customer value. This funding allows us to accelerate our growth aspirations and continue to invest in what matters most to our customers – delivering genuine innovation. With a top class management team now in place and the support of NorthEdge, we are truly excited about what we can achieve together.”
Graham Ewart, CEO, Direct Healthcare
“It has been a pleasure working with the team at DHS and we are delighted to conclude this investment. The team has a robust plan in place and I am confident that with our M&A expertise and ability to offer follow-on funding, their market-leading platform will continue to develop even further.”
Jon Pickering, Director, NorthEdge Capital
“We’re pleased to advise NEC on the investment in DHS. The funding offers DHS the chance to expand the business, continue to work on new technologies and innovate products. We look forward to seeing these developments.”
John Clarke, Director, Clearwater International