Birmingham-based Clearwater Corporate Finance has advised business support services group DCC on the sale of its mobility and rehabilitation business as part of a £31 million deal.
Patterson, a supplier of rehabilitation and physiotherapy products, has acquired Physio Med Services, Ausmedic Australia and Metron Holdings and the business and assets of Days Healthcare UK from DCC and certain minority shareholders in PMS and Ausmedic.
The deal represents Clearwater’s sixth cross-border transaction in as many months.
Days, which is based in Bridgend, is a supplier of mobility and rehabilitation products for the elderly, disabled and infirm, supplying the UK and international markets. Derbyshire-based PMS is a catalogue-based marketer and distributor of physiotherapy supplies.
Meanwhile, Australian company Ausmedic, is a supplier of own-brand and third-party physiotherapy products in Australasia.
Clearwater Corporate Finance partner Andy Moore led the deal team for Clearwater, assisted by Karen Edwards, Mark Day and Ramesh Jassal.
He said: “This transaction is a good example of the increasing volume of M&A activity with US-based companies in the healthcare sector.
“It allows DCC to concentrate its focus on the remaining core of its larger healthcare businesses and its other divisions, and it provides Patterson with an excellent foothold in the European and Australasian markets.”