Watersheds has secured the multi-million pound business sale of Therapy Equipment, a leading UK niche hospital equipment producer, to business growth specialists Owner Venture Managers (OVM). The sale will allow Therapy Equipment, which is already the NHS’s largest supplier of “suction and oxygen therapy” equipment, to grow internationally under its new owner, whilst maintaining production from the company’s longstanding base in Hertfordshire.
Selling a family-run company
Founded in 1983 by Chris Munn, Therapy Equipment is a family business. Since 1995, it has been run by sons Steve and Dave Munn. It employs 28-people and supplies nearly every one of Britain’s 152 NHS trusts, making it the leader in its specific market. Therapy Equipment’s products are normally installed behind each hospital bed.
Jessica Painter of Watersheds said: “Any sale of a business that has been ‘part of the family’ for 35 years must be handled sympathetically. Steve and Dave relied on Watersheds’ advice every step of this once-in-a-lifetime process to help ensure the very best outcome from the business sale.
“We secured a value for the shareholders that generously represented so many years of dedication by two generations of the Munn family. Many business owners looking to sell their business only consider being purchased by their larger rivals. We involved carefully selected private investment businesses such as OVM, ensuring the family had the highest possible offer.”
Steve Munn, of Therapy Equipment, observed: “When we decided to sell our business we were looking to ensure it was purchased by someone who would share our passion, and have the strategic vision for the future potential of the business.
“Watersheds, uniquely, base their fees on a successful outcome. I have been led extremely proficiently by the team at Watersheds and have been continuously impressed by their tenacity and drive to achieve what we engaged them to do. Their professionalism was clear from day one and they demonstrated their commitment every day since to get us the best possible sale.”
OVM, which has purchased Therapy Equipment, is a privately-owned UK-based investment firm that acquires and invests in trading businesses that have a strong track record and are capable of significant future growth. Therapy Equipment joins its portfolio and will also benefit from the expertise of Frank Collins who joins as Executive Chairman, bringing a wealth of experience as an NHS leader at both Chief Executive and Chairman level.
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