National Seating & Mobility up for sale?
NASHVILLE, Tenn. – Wellspring Capital Management is shopping for a buyer for National Seating & Mobility, according to news reports.
The private equity firm has hired Piper Jaffray, an investment bank and asset management firm offering M&A services, to find a buyer for the complex rehab provider, which it says could be worth $400 million, according to an item on Fortune.com citing The Wall Street Journal.
Wellspring Capital acquired NSM in early 2013. At the time, the provider had 68 branches located across 30 states.
Since then, NSM has rolled up dozens of mobility providers, including, most recently the complex rehab division of Webb Medical Systems in Reading and Allentown, Pa., in February, and Home Medical Equipment in Garden City, N.Y., last November.
NSM has also thrown its hat into the home accessibility market, launching AccessNSM in October. AccessNSM offers stair lifts, wheelchair lifts, ramps, door openers and barrier-free showers through seven locations from Massachusetts to North Carolina.
Bill Mixon took over the reins as CEO of NSM from founder Mike Ballard in July 2015.