Leading provider of complex mobility solutions in North America
Cinven, the international private equity firm, today announces that it has agreed to make an investment in National Seating & Mobility (‘NSM’), a leading provider of complex rehabilitation mobility and accessibility solutions. Financial terms of the transaction were not disclosed.
Headquartered in Nashville, Tennessee, NSM provides personalised solutions to individuals with mobility challenges by bringing together industry-leading expertise, uniquely engineered systems and breakthrough technologies. NSM’s Assistive Technology Professionals (‘ATPs’) work closely with physical and occupational therapists throughout the US and Canada to design customised, complex wheelchairs to meet the unique needs of each client. Established in 1992, today NSM has more than 1,850 employees operating from 149 branches across the US and Canada serving more than 100,000 clients annually.
Alex Leslie, Partner at Cinven, commented:
“This is an attractive opportunity for Cinven to invest in NSM, a leading player in the Complex Rehab Technology market in North America. NSM operates in an industry we have been evaluating deeply for several years through our work in the Healthcare sector team in both Europe and the US.”
John Richardson, Senior Principal at Cinven, added:
“We are looking forward to partnering with NSM’s highly experienced management team to accelerate the company’s growth, both organically and through strategic acquisitions. Cinven will invest significantly in the business to ensure that NSM remains at the forefront of providing best-in-class complex mobility solutions.”
Bill Mixon, CEO of NSM, said:
“NSM was founded with a very simple mission: to provide self-reliance for our clients through mobility. Our goal is to drive independence for those we serve, and propel the future of possibilities for the Complex Rehab Technology industry.
“We are very excited to continue pursuing our mission through our new partnership with Cinven. The Cinven team’s significant expertise in the global Healthcare sector, as well as its proven track record of investing in, and working with, healthcare companies to expand their businesses will be invaluable to us as we look to enter our next phase of growth.”
Advisors to Cinven on the transaction included: Jefferies LLC, Cain Brothers, a division of KeyBanc Capital Markets, Latham & Watkins LLP and Deloitte LLP.