Caerphilly-based Fusion Occupational Health (formerly Santia) has received a six-figure investment from Development Bank of Wales to fund their management buyout (MBO) of the company.
Fusion Occupational Health offers services designed to improve the health and wellbeing of an organisation's employees. They work with businesses of all sizes and across all sectors. The management team were offered the opportunity to buyout the occupational health business following Santia Consulting’s acquisition by the Alcumus Group.
“We had a plan, but we needed money to finance it. That’s where Development Bank of Wales came in,” said Bill Bartley, Managing Director of Fusion. “They worked fast and a deal was sorted quickly. The whole process was very smooth. The experience was easier than we expected and, for us, the best option.”
Steve Galvin, who structured the deal on behalf of Development Bank of Wales added;
“This was an easy, fast-paced deal, The new management team have more than 50 years of combined experience at the company. They understand how it operates and have a solid business plan to ensure continued success.”
The company who provide occupational health services to businesses were introduced to Development Bank of Wales by the Welsh Government.
Development Bank of Wales manages the £25 million Wales Management Succession Fund, launched in April this year. The fund offers investments between £500,000 and £3million to help with succession. Development Bank of Wales manages a number of funds which can be used to help fund MBOs and other succession deals from £1000 through to £3million.