Private equity firm swoops for health company
A healthcare business based in Redditch which has turnover of £21m has been snapped up by a private equity firm CBPE Capital.
Working on Wellbeing, which trades as Optima Health, provides occupational health and wellbeing services to a UK-wide blue chip customer base.
The business delivers services to a range of industries including safety-critical and construction related sectors as well as specialised environments such as the police, the NHS and local authorities.
The deal was conducted through CBPE Capital’s existing investee business OH Assist.
OH Assist delivers both occupational health services and employee advisory programmes to public and private sector clients and CBPE Capital said the combination of the two businesses will create the “UK’s number one independent corporate health and wellbeing provider.”
Simon Dickinson, CEO of Optima Health said “We are excited about the opportunities that lie ahead for Optima Health as we continue to develop our model to deliver the very best onsite, mobile and remote occupational health services. We are confident that we have found the right home for the business to continue its positive momentum.”
Ben Bolt, partner at Springboard Corporate Finance, advised the shareholders of Optima Health on the sale of the business.
He said: “Simon and his team have created a fantastic business based around a strong culture, a flexible operating model and excellent service delivery. The business is well placed to continue its impressive record of growth as part of CBPE’s portfolio.”
Anand Jain, partner at CBPE Capital, added: “This is an exciting development for the combined business, its employees and clients, creating a company differentiated in terms of scale and value-added services. We look forward to working closely with Simon and his team to deliver continued success.”
Optima Health was also advised by Joanne Bligh of Thinking Legal and Lisa Stevenson of Parisi Tax. CBPE Capital was advised by Deloitte and Eversheds.
