LDC-backed Prism Medical acquires firm

LDC invested £30m in Wakefield-based Prism Medical in April 2014.

The specialist mobility supplier and manufacturer has now bought The Mobility Equipment Company (TMEC) for an undisclosed sum with support from LDC.

The transaction, which is the second since LDC’s investment, forms part of Prism’s “acquisitive growth strategy”, the firm said.

Prism provides moving and handling equipment such as hoists, shower chairs, slings, baths, beds and stair lifts to enable those with mobility problems to live independently. It operates in the homecare, long-term care and acute care sectors.

In addition to manufacturing and supplying products under a number of brands, it provides assessment, installation, training, maintenance and after sale customer service.

TMEC, based in Hinckley, Leicestershire, distributes, installs and services specialist mobility equipment, with a particular specialism in stair lifts.

The acquisition extends Prism’s existing presence in the Midlands and will enhance its business capabilities in stair lift products, LDC said.

In September, Prism completed a deal for Handling Moving and Ergonomics (HME), a provider of specialist training to people using moving and handling equipment.

Stuart Meldrum, chief executive of Prism Medical, said: “TMEC provides us with a more established presence in the Midlands from which we can further develop our existing service offering in this key region, while HME brings additional training skills and capabilities.”

Andy Lyndon, director at LDC said: “TMEC is the second high quality acquisition completed by Prism Medical since we backed the business earlier this year, reflecting our belief that there is real scope to build the business both organically and acquisitively.

“We’re working closely with the Prism Medical team to identify complimentary acquisition opportunities.”