NSM swaps PE owners
FRANKLIN, Tenn. – National Seating & Mobility has entered into a definitive purchase agreement with Court Square Capital Partners, a New York-based private equity firm.
Court Square Capital Partners will buy NSM from Wellspring Capital Management, also a New York-based private equity firm, which bought the company in December 2012.
“This is an exciting time for NSM and we’re very pleased that Court Square is investing in our company,” said CEO Bill Mixon in a press release. “Court Square has a track record of growing businesses and is eager to help NSM strengthen its commitment to the lives of people who need mobility.”
Court Square Capital Partners has made more than 200 investments since 1979.
Terms of the deal, which is expected to close in the next 60 days, were not disclosed, but NSM is rumored to be worth $400 million.
Under Wellspring’s ownership, NSM has rolled up dozens of providers, most recently the complex rehab division of Webb Medical Systems in February. It has also thrown its hat into the home accessibility market, launching AccessNSM in October 2015.
NSM is one of two national providers left in the complex rehab market. The other, Numotion, was formed in 2013 when ATG Rehab and United Seating & Mobility joined forces.