AJM Healthcare

DEALS: AJM Healthcare

AJM Healthcare logo

THE DEAL

  • Sector: Healthcare
  • Deal type: Debt Advisory, Management Buy-Outs
  • Deal size: Undisclosed
  • Year: 2018
  • Lead partner: Simon Davies

DEAL TEAM

Bilal Hasan Ian Milne Simon Davies Simon Sherliker

Spectrum Corporate Finance has successfully advised the shareholders of AJM Mobility Limited, trading as AJM Healthcare, on the MBO of the company backed by WestBridge Capital.

Spectrum acted as both lead advisor to the shareholders and debt advisor to management and WestBridge Capital, helping to raise funds to support the acquisition and provide facilities to enable future growth.

AJM Healthcare (AJM) is a leading integrated wheelchair service provider for the NHS, delivering services to a population of over 2 million, and was the first company in the UK to be granted CECOPS accreditation for integrated wheelchair services, widely acknowledged as the gold standard for quality in the sector. AJM employs over 150 people, ranging from specialised therapists to field service engineers.

WestBridge Capital typically invests in medium sized growing UK SMEs, and was attracted to AJM Healthcare’s recurring income streams, fixed-term contracts and a track record for the provision of quality service.

Following the Transaction James Wakefield (Founding Partner) and Tim Whittard (Investment Director) of WestBridge Capital have joined the Board led by AJM CEO Mark Perress, who has been running the business on a day-to-day basis for over seven years.

“Well before the start of the process we met with a number of Corporate Finance Advisers and from the outset Spectrum’s experience of MBOs and their huge network of PE House relationships set them apart from the others. Our decision to work with them was a wise one as Spectrum delivered on their promises resulting in a successful outcome for all parties involved.” Martin Dixon, co-founder of AJM Healthcare
“We were highly impressed with the WestBridge team from the outset. We believe that our relationship will deliver a winning combination of management, operational and financial expertise that will work for the benefit of AJM, its service users and customers. The Spectrum team guided us through the MBO process with hands-on support to ensure we found the best partner.” AJM CEO Mark Perress
“AJM is an established, well-respected and well-run business providing a number of essential outsourced services under contract to the NHS and Local Authorities. It is now in a strong position to achieve significant future expansion of its services. We are delighted to have backed this highly experienced management team, who we are confident will steer the business to its next level of growth – building on its strong reputation for excellent service to its loyal customer base. The Spectrum debt advisory team delivered a robust funding package from AIB to support the MBO and additional facilities to enable future growth.” Tim Whittard, investment director at WestBridge Capital