Nottingham-headquartered Cliffe Medical Group, which trades under the OstoMART and Respond Plus brand names, has been acquired by an international healthcare group for an undisclosed sum in a deal structured by local experts.
Accountancy and business advisory firm BDO LLP in Nottingham and lawyers from Nelsons Solicitors advised Cliffe Medical Group throughout the deal process.
The transaction marks the first deal completion of the new Mergers & Acquisitions team at BDO in the East Midlands following the arrival of John Bryant in the summer.
Situated at Carlton Business Centre in Nottingham and employing approximately 50 people, Cliffe Medical Group is a leading independent supplier of Stoma Appliances and ancillary items, which have transformed the way in which prescription products and services are delivered to patients across the UK and Northern Ireland.
In addition to the Head Office in Nottingham, the business also has service centres in Peterborough, Ferndown and Belfast, along with a manufacturing facility in Barnsley.
Richard Cliffe, previous owner of the Cliffe Medical Group says “The offer came at the right time both commercially and personally. Our market continues to grow and I believe the new owners will take Cliffe Medical to the next level with additional investment into the business.
“It was important to me that the new owners would continue the business as a going concern, and the future of the staff was assured. BDO and Nelsons were extremely helpful, professional and efficient throughout the process. It was a pleasure to work with them both.”
The corporate finance team at BDO LLP in the East Midlands were instructed as lead advisers to Cliffe Medical Group, along with Nelsons which has worked with the Group for many years.
John Bryant, head of M&A at BDO LLP in the East Midlands, says: “Cliffe Medical Group has built an enviable market reputation both locally and across the healthcare sector. Having continually invested in its people, clients and product offering, it was an attractive and strategic proposition for the purchaser.
“Importantly, the deal also speaks volumes for the quality of businesses we have in the region. As the market picks up speed and corporates look to invest in growth, appetite for doing deals is rife. We will continue build on our strong local team as we look to service this growing demand from clients.”
Michael Lodge, partner at Nelsons, said: “Nelsons has a longstanding relationship with Cliffe Medical Group so this was a particularly satisfying transaction, having seen the Group develop and build its profile as a highly reputable player within the sector.
“This deal gives further evidence that we are seeing an increased level of activity among owner managed businesses. During the downturn businesses used that period to consolidate their companies in order to make an exit when there was recovery. We are seeing a significant number of transactions as a result of this consolidation period.”
