SWINDON-BASED finance specialists Watersheds successfully secured a multi-million pound sale of a company that makes vital therapy equipment for the NHS.

The health service's largest supplier of suction and oxygen therapy equipment Therapy Equipment Ltd is now under new ownership.

The family-run business overseen by Steve and Dave Munn supplies most of Britain's NHS trusts with regulators and other devices that connect to gas pipelines and cylinders behind each hospital bed.

Therapy Equipment managing director Steve Munn said: “Each day our equipment is helping keep thousands of people alive in the UK’s hospitals, so its quality, durability and reliability has always been our number one priority.

“We were looking to ensure the business was purchased by someone who would share our passion for its importance, and who would also have the strategic vision for the future potential of the business.

“I have been led extremely proficiently by the team at Watersheds and have been continuously impressed by their tenacity and drive to achieve what we engaged them to do.

"We wanted to get a purchaser with a strong vision about how to get the best future growth for this business."

"Their professionalism was clear from day one and they demonstrated their commitment every day since to get us the best possible sale.”

Business growth specialist Owner Venture Managers bought Therapy Equipment and hopes to grow the company internationally while keeping its production base in the UK.

Jessica Painter of Watersheds is the lead advisor who created the deal. She said: “Any sale of a business that has been part of the family for 35 years must be handled sympathetically.

"Steve and Dave relied on Watersheds’ advice every step of this once-in-a-lifetime process to help ensure the very best outcome from the sale.

“We secured a value for the shareholders that generously represented so many years of dedication by two generations of the Munn family and allows the business to grow substantially through export-led sales.

“Many business owners looking to sell only consider being purchased by their larger rivals. We involved carefully selected private investment businesses such as OVM, ensuring the family had the highest possible offer.”