WESTBRIDGE CAPITAL, which typically invests in medium sized enterprises, has backed a management buyout of AJM Mobility Limited (t/a AJM Healthcare), which provides mobility and equipment solutions to the NHS, Local Authority Partners and individuals across the UK.
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 will work closely with the existing senior management team led by Mark Perress, who has been running the business on a day-to-day basis for over seven years.
Tim Whittard, investment director at WestBridge Capital, said:
“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. We look forward to helping take these considerable skills to the wider UK market.”
AJM CEO Mark Perress added:
“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.”
James Wakefield, founding partner at WestBridge Capital, said:
“This is exactly the type of business we like to invest in with recurring income streams, fixed-term contracts and a track record for the provision of quality service.”