MBO/MBI of Evac+Chair Supported By Clydesdale Bank
Evac+Chair International Limited is a Birmingham based manufacturer and distributor of innovative products and services providing mobility impairment and transportation solutions for the medical, safety and care sectors.
Its principal product is the Evac+Chair – the award-winning evacuation chair. Other products include the Ibex Transeat – a patient transport system, the Air+Chair – a specially designed on-board transit chair for airlines, and specially adapted elevating and adjustable patient movement trolleys for use by the Rescue Services, Hospitals in the care of infants in incubators, and other specialist patient and casualty handling equipment including the award winning ACR (Ambulance Child Restraint). The company has also introduced a range of fire safety products.
The company has been manufacturing in Birmingham since 1985. Since that time, the company has experienced a continual expansion nationally and internationally through its worldwide distribution network.
In January 2017, the company’s parent company, Evac+Chair Holdings Limited was acquired in an MBI/MBO by Ges Wallace and Ian Thompson who has joined the company from the fire safety products sector. The MBI/MBO was funded by Clydesdale Bank.
The Orbis team provided a focused financial due diligence report highlighting the key risk areas. Their recommendations around deal issues provided insightful information that ultimately helped to close a successful deal.
Ian Mansell, Senior Director - Corporate and Structured Finance
Orbis were engaged by Clydesdale Bank (the Bank) to undertake financial due diligence on the company in support of the funding to be provided by the Bank.
Bank funding to support the MBI/MBO was led by Ian Mansell of the Bank’s Specialist and Acquisition team in Birmingham.
- Worked with the Bank to agree a formal scope for the due diligence
- Undertook a detailed investigation of the historical, current and forecast financial performance and position of the company
- Undertook a review of the tax affairs of the company under taxation due diligence
- Presented a written report to the Bank on the conclusions and findings of our work