Millbrook Healthcare Group has sold Ross Care to Medequip, a subsidiary of Medux

Ross Care

Ross Care was acquired by Cairngorm Capital in February 2021 as a bolt-on for its portfolio company Millbrook Healthcare Group. Following the acquisition, Cairngorm merged the wheelchair businesses of Millbrook and Ross Care under the Ross Care brand, which is now one of the largest outsourced wheelchair services providers in the UK. Since securing its first outsourced contract in the 1970s, Ross Care has grown to operate 40 long-term contracts across England and Wales for Integrated Care Boards and National Health Service (NHS) Trusts. Ross Care’s differentiated end-to-end service proposition covers the entire service user pathway, including catering to the needs of highly complex service users through its specialist, custom-made seating manufacturer, Consolor.

The Deal

Lincoln International acted as exclusive sell-side financial advisor to Cairngorm, providing both corporate finance and debt advisory on the corporate divestiture of Millbrook’s specialist wheelchair division, Ross Care. The sale of Ross Care within 26 months of acquisition reflected a change in strategy for Millbrook and required a complex carve-out of Ross Care and additional synergistic businesses from Millbrook. The Lincoln team worked closely with the shareholders and management team to prepare the business for sale in parallel with the shareholders’ extensive carve-out workstreams.

The deal ultimately completed with the sale to Medequip, a leading UK provider of community equipment and complementary services to local authorities and the NHS. Owned by the Dutch-based Medux group, the transaction strengthens Medequip’s footprint in the UK, expands their client base and enhances their equipment and service offering.

Our Perspective

Matthew Lee, Managing Director in Lincoln’s Healthcare Group, commented, “We are delighted to have delivered a transaction that represents a great return for Cairngorm during a challenging macroeconomic environment. The transaction is a successful culmination of nine months of preparation and deal execution; it sees the combination of Ross Care and Medequip to create an integrated UK healthcare provider of scale that provides both mobility equipment and wheelchair services. We wish the team well and look forward to seeing Ross Care join with Medequip and prosper within the wider Medux group.”

Cairngorm Capital

Cairngorm is a specialist private investment firm owned entirely by its senior executives providing equity capital and management expertise to leading UK companies. It invests in strongly performing, private middle-market growth companies with long-term growth potential, operating in manufacturing, distribution and services industries.


Headquartered in Harmondsworth, England, Medequip is a leading provider of community equipment and complementary services to local authorities and the NHS in the UK. Medequip services more than 1.3 million service users every year, enabling them to live independently at home for longer, alleviating pressures on the NHS and other healthcare services. Medequip generates revenues in excess of £200 million and employs more than 1,000 people.

Medequip is owned by Medux which acquired the business in Q1 2022. Medux itself is a portfolio company of NPM Capital and is headquartered in Utrecht, Netherlands, and is a market leader in the provision of healthcare products and services, specifically homecare, rehabilitation and mobility aids to healthcare customers funded or commissioned by healthcare insurers, local governments, healthcare institutions and healthcare professionals.

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The Lincoln team did a great job in providing value added support to ensure we achieved the right outcome for our investors. The team worked seamlessly with management and the deal team to ensure that Ross Care was positioned well for the exit process, and provided valuable strategic advice throughout the process.
Amit Thaper
Managing Director at Cairngorm Capital

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