F&C: ISIS backs leading Primary Care supplier

ISIS Equity Partners has completed the management buyout of Williams Medical Supplies (‘WMS’), a leading supplier into the UK Primary Care market.

This transaction is the first investment from the ISIS IV fund. Founded in 1986 and based in Rhymney, South Wales, WMS stocks, supplies and distributes an extensive range of medical products to GPs and other primary care customers. Trading under the WMS brand, it stocks pharmaceuticals, consumables and medical equipment as well as providing support services to GP surgeries and practice management.

WMS has an excellent reputation for reliability and speed of delivery with a growing customer base of over 11,000 active customers which are predominantly GPs but also include pharmacies, NHS, Occupational Health, Nursing Homes, Family Planning Clinics and custodial institutions.

Robin Williams founded the business initially as a distributor of vaccines and injectables. Since then, WMS has grown organically and has seen turnover rise to more than £47m.

The MBO of WMS adds to ISIS’ growing portfolio in the healthcare sector, which includes Care Management Group and Paragon (UK) Ltd.

The buyout of WMS has been led by CEO Vince Kerr and Commercial Director Nigel Knight. Kerr, who has been at WMS for 14 years, comments: “This is a great opportunity for WMS. We are well positioned in the market and in a strong growth phase. The plan to double the size of the business looks very achievable. ISIS has exhibited a market knowledge and enthusiasm for the business that has been a true asset in getting this deal completed.”

Mark Advani, who led the transaction for ISIS, added “It is an exciting time in primary care as surgeries take on increasing responsibility for the health of their communities. WMS is the market leader in interfacing with GPs and practice managers and provides a unique support to managers growing their practices. We are looking forward to working with the WMS team to further add to their proposition”

ISIS has invested £10.5m in equity to fund the transaction.