Capital Law advises WestBridge on AJM Healthcare exit

Our client, private equity firm WestBridge, has exited its investment in portfolio company AJM Healthcare – the leading provider of NHS wheelchair services in England – following the company’s acquisition by Livingbridge.

Our corporate team, led by Tom Kelleher along with Angelina Drljaca-Chandler, Cath Golledge, and Lowri Roberts, advised all of the sellers – including WestBridge, the chairman and the management team – on the deal.

The transaction marks the first exit from WestBridge’s second, £140m, fund and was completed in little more than two and a half years after WestBridge supported the original management buyout of the company in September 2018 – on which Capital Law also advised.

Following the 2018 management buyout, Chairman Andy Dun worked closely with the executive team to develop the business. As well as introducing operational improvements and investing in the company’s head office, WestBridge helped AJM enhance its clinical and corporate governance, refine its operational processes and procedures, introduce new IT systems and review its approach to tendering.

Tim Whittard, Partner at WestBridge, said:

It was a pleasure to work with Tom, Angelina and the Capital Law team once again. They provided great support and advice throughout the exit process and over the life of our investment in AJM and we look forward to continuing working with them going forward.

Tom Kelleher, Partner at Capital Law, said:

It’s been great working with the AJM team and the WestBridge team throughout its ownership of AJM, since the 2018 buyout. WestBridge backed a remarkable management team delivering vital services, supporting them to develop the business during challenging times, as it enters its next phase of development. We wish Steve and the wider AJM team all the best!

Steve Peck, Managing Director at AJM, said:

Having worked with Tom and the team at Capital Law for the past few years I have always found them to be professional, personable, goal orientated and they have always delivered on their word. This transition was no different, making it seamless for the management team at AJM. It’s been a pleasure working with them and I would like to thank them for their continued support.

Read more about the deal here.

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