NASHVILLE, Tenn. – National Seating & Mobility has agreed to be acquired by Cinven, an international equity firm.
Since 2016, NSM has been owned by Court Square Capital Partners. Prior to that, it was owned by Wellspring Capital Management, which bought the company in 2012.
“This acquisition aligns with our company’s continued trajectory of growth, future business goals and, most importantly, our mission,” said Bill Mixon, NSM CEO. “Our partnership with Court Square these past three years has led to outstanding growth and significant technological and operational advancements. We look forward to exploring a future of possibilities for those we serve with Cinven and their team of global healthcare investment experts.”
Cinven is an international private equity firm focused on building world-class European and global companies with investments in key sectors, including business services, consumer, financial services, healthcare, industrials, technology, media and telecommunications.
“This is an attractive opportunity for Cinven to invest in NSM, a leading player in the complex rehab technology market in North America,” said Alex Leslie, a partner at Cinven. “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 U.S.”
The transaction is expected to close in 45 days. NSM was founded in 1992 and has grown from five locations to a national network of mobility solutions experts.
Cinven is a global private equity firm founded in 1977, with offices in nine international locations in Guernsey, London, New York, Paris, Frankfurt, Milan, Luxembourg, Madrid, and Hong Kong that acquires Europe and United States based corporations, and emerging market firms that fit with their core businesses, and necessitate a minimum equity investment of €100 million or more. In 2015, it had €10.6 billion in assets under management.
Cinven’s funding base originally came solely from three pension funds in the United Kingdom (British Coal, the Railway Industry and Barclays Bank) who remain as important investors. Cinven has been reported to originally stand for Coal Investment Nominees’ for Venture Capital.
Cinven invests in six sectors on an international basis: Business Services; Technology, Media and Telecommunications; Financial Services; Industrials; Healthcare; and Consumer.