National Seating & Mobility (NSM) has announced it’s “entered into a definitive purchase agreement” to be acquired by Court Square Capital Partners, a private equity firm based in New York City.
NSM is currently owned by Wellspring Capital Management, which acquired the complex rehab technology providership in December 2012.
“This is an exciting time for NSM, and we’re very pleased that Court Square is investing in our company,” NSM CEO Bill Mixon said in an Aug. 10 statement. “Court Square has a track record of growing businesses and is eager to help NSM strengthen its commitment to the lives of the people who need mobility. We thank Wellspring for its support and many contributions to our success over the past three and a half years.”
NSM will celebrate its 25th anniversary next year.
In talking with Mobility Management after the announcement, Mixon said Court Square has “a great reputation in the marketplace” and is “supportive of our mission.”
In recent years, NSM has continued to expand by adding branch offices of its own as well as acquiring existing complex rehab technology businesses. Mixon indicated he expected growth to continue under the new ownership structure.
NSM said the acquisition was expected to be completed in the next 60 days.