Cinven, the London-based private equity firm, struck a deal last week to acquire National Seating & Mobility (NMS) from Court Square Capital Partners. The sale, which was valued at $850 million by sources cited in PEHub Buyouts, resulted from a Harris Williams-run auction that began in August. Court Square Capital bought it from Wellspring Capital Management in 2016, but now Cinven will be backing the company.
NMS provides complex rehab technology (CRT) solutions focusing on highly customized wheelchairs for patients diagnosed with long-term or permanent loss of mobility. NMS operates through Rehab Technician Specialist (RTS) which connects with physicians and physical therapists.
The company had participated in several of its own acquisitions to build its platform. Since May 2017, NMS has announced 23 transactions across North America, including two in Canada. The transactions mostly focused on small state and regional providers of home health medical and support equipment for seniors to meet the growing demand for home health and hospice care.
Most recently, NMS acquired Scooter Warehouse/At Home Accessibility in South Bend, Indiana in July, expanding its home accessibility division in the Midwest. Early in June, NMS reported buying CMC Adaptive Seating and Homecare, LLC to grow its market in New York and New Jersey. It also acquired companies in California, North Carolina, Ohio and Texas, further expanding its national presence.
Cinven’s acquisition of NMS is expected to close within 45 days of the announcement.
