Wellspring Capital Management has entered into an agreement to sell its portfolio company National Seating & Mobility to Court Square Capital Partners. The transaction is expected to close within the next sixty days.
National Seating & Mobility (NSM) designs, assembles, and provides customized wheelchairs and adaptive seating systems to individuals who have been diagnosed as having a permanent or long-term loss of mobility due to trauma, physical abnormality, structural defect or disease. NSM has client service facilities and regional processing centers from Hawaii to New England. The company was founded in 1992 and is headquartered near Nashville in Franklin, TN (www.nsm-seating.com).
Wellspring Capital acquired NSM in December 2012 and during its ownership adding 35 branch locations by growing organically, closing 5 strategic add-on acquisitions and numerous smaller tuck-in acquisitions.
“We are pleased with the success NSM has achieved over the past few years. Under our ownership, NSM has substantially grown its footprint and improved operationally in order to provide the best complex rehab technology solutions to the people who need them most,” said Alexander Carles, a Managing Partner of Wellspring. “The company is well-positioned today to continue serving as an industry leader for many years to come.”
Wellspring Capital Management is a middle-market private equity firm that manages more than $3 billion of private equity capital. The firm was founded in 1995 and is based in New York (www.wellspringcapital.com).
Court Square Capital Partners invests in middle market companies that are active in the business services, general industrials, healthcare, and technology/telecommunications sectors. Court Square currently manages approximately $5 billion of capital and is based in New York (www.courtsquare.com).
© 2016 Private Equity Professional • 8-12-16