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Xeinadin’s Corporate Finance team has successfully advised Millercare Limited on a management buy-out.
Panoramic Growth Equity, a leading investor in entrepreneurial UK companies, part funded the MBO from its fourth investment from Panoramic SME Fund 3.
Panoramic has partnered with Millercare longstanding management team, MD Nick Buchanan, Finance Director Phil Neal and Operations Director Tara Butterworth, each of whom has been with the company for over 20 years.
Xeinadin Corporate Finance’s Steven Lindsay led the corporate finance advisory services for the sellers.
Established in 1952, Millercare is a prominent provider of mobility products and services to consumers, charities, and the NHS.
Headquartered in Nelson, Lancashire, the company operates 14 showrooms across Northwest England.
David Atkinson, investment director at Panoramic, said: “We have been impressed with the business that Nick, Phil and Tara have built, founded upon supplying leading mobility brands, with long serving highly skilled staff providing exceptional care, service and expertise to its customers. We are excited about supporting management with their expansion plans”.
Nick Buchanan, managing director of Millercare, added:“We are very happy to partner with Panoramic on our Management buy-out of Millercare. News of the transaction has been very positively received by all our stakeholders and we are looking forward to working with David and Katie as we seek to expand the business further across northwest England.”
