Oxford: Penningtons Manches advises Bush & Company on sale
Penningtons Manches has advised on the sale of Bush & Company Rehabilitation, a leading UK provider of expert witness, immediate needs assessment and case management services, to NAHL Group plc. NAHL is the leading UK consumer marketing business focused on the UK legal services market.
NAHL has agreed to acquire all the issued share capital of Bush & Company for a total cash consideration of around £28.3 million on the basis that the business has free cash of at least £3.3m at completion.
Bush & Company’s clients include injured people, solicitors and insurance companies acting in catastrophic and serious injury cases. It specialises in undertaking assessments following accidents that result in disabilities such as spinal cord injuries, acquired brain injuries, amputation, orthopaedic injuries and visual impairment. The company also provides assessment and case management services to clients who have conditions arising from medical negligence such as cerebral palsy and abdominal and orthopaedic injuries, and a range of vocational rehabilitation services to enable an injured person to address any barriers to returning to work or education.
The acquisition is in-line with NAHL's strategy of seeking out acquisitions in the legal services markets which will create good opportunities for NAHL to access a new market within consumer legal services and broaden its portfolio.
Bush & Company's existing management team will remain with the business post completion.
A multi-disciplinary Penningtons Manches team led by corporate partner Will Axtell, and supported by corporate associate Nicola Sole, advised the shareholders of Bush & Company on the transaction. This involved corporate, tax, real estate and employment lawyers from the firm’s Oxford and London offices.
Rachel Bush, managing director of Bush & Company, commented: “We are delighted with the highly-successful sale to NAHL. This was a new experience for us as a family-owned business but we were really well supported along the way by Will Axtell, Nicola Sole and the team at Penningtons Manches. They were all highly professional and extremely diligent throughout. I would very much recommend them to other vendors."
