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Workplace hygiene services provider, phs Group, has acquired Yorkshire-based supplier of healthcare and cleaning products to care homes, Countrywide Healthcare Supplies.
The sale of Countrywide Healthcare Supplies is the first deal for Manchester-headquartered corporate finance practice Vertex, which was established earlier this year to provide sell-side advice and equity fundraising support to SMEs across the UK. The financial terms of the deal are undisclosed.
Countrywide Healthcare has its offices, warehouse and distribution centre at a 110,000sq ft base in Barnsley and has been supplying care homes across the UK with healthcare products along with interior design and fit-out services since its inception 28 years ago.
The business, which has more than 130 staff, is led by Managing Director Sarah Robinson and Finance Director Richard Hannah.
Its sale to phs Group provides an exit for Founder and former Chairman Alastair Kitching and Co-Director Jeremy Gilson. It also marks a successful exit for Octopus Ventures, which has backed the business since 2014.
The Vertex team who advised the company on the sale included MD James Darlington and Deal Adviser Josh Malyan.
Caerphilly-based phs Group is a specialist provider of washroom, waste management, storage, testing, laundry and other services to over 100,000 businesses across the UK. With a workforce of more than 3,100 staff, the group also operates internationally.
Commenting on the acquisition, Robinson said: “We are excited to join forces with phs Group and look forward to the opportunities that lie ahead.
“This marks a new chapter for Countrywide Healthcare, but it remains business as usual and our day-to-day operations will not change.
“Both phs Group and Countrywide Healthcare are growing businesses and we share strong cultural values within our organisations and towards the world around us.
“We believe that this partnership will deliver more opportunities for service excellence and growth, which in turn will provide increased benefits for our respective customers.”
Kitching said: “Vertex has been an invaluable partner throughout the sale process, offering unwavering support and professionalism to ensure a smooth transaction for Countrywide Healthcare.”
Vertex, which has its headquarters at the Manchester International Office Centre near Manchester Airport, and additional offices in Birmingham and London, has developed a strong pipeline of company sales and equity fundraising opportunities, with a number of transactions pending across multiple sectors.
