Project Description

HMT provided the financial due diligence in respect of the secondary buyout of Chiltern Invadex Holdings on behalf of a Newco funded by Aberdeen Murray Johnstone and Bank of Scotland.

CI was founded in 1974 and was the subject of an original MBO in 1995.  The company has two sites, at Bicester, Oxfordshire and Bangor in Northern Ireland. It employs 207 people.  The company’s product range is split into two main types of product: Moving and Handling equipment (predominantly hoists to aid transfer from bed, chair or bathing area) and Showering and Bathing equipment (e.g. level access shower trays and shower chairs).  CI’s key sales areas are Housing Adaptations, Integrated Community Equipment Stores and the NHS and export markets.  It is the largest player in the community sector.

The management team is led by Mark Metcalfe, Managing Director, who was previously backed by Murray Johnstone in 1988 when he was part of the MBO team for the buy-out of Nesbit Evans. Mark joined CI in 1998 becoming Managing Director in 2000.