E-zec Medical partners with Cairngorm Capital to optimise its business and accelerate growth
Redhill, Surrey, 10 May 2021: E-zec Medical Transport Services (E-zec), England’s largest independent provider of Non-Emergency Patient Transport Services (NEPTS), is pleased to announce that it has entered into a partnership with Cairngorm Capital Partners LLP (Cairngorm Capital) to accelerate its growth and advance its position within the patient transportation sector. Cairngorm Capital is a specialist private investment firm that provides equity capital, strategic advice and management expertise to ambitious UK companies.
Established in 1998, E-zec provides a range of services to Clinical Commissioning Groups (CCGs). With a fleet of over 550 vehicles, the company operates patient transport to and from healthcare settings, including specialist high dependency crews and ambulances for critical inter-hospital transfers. E-zec is also a leader in bariatric provision, offering a UK-wide bariatric ambulance service, supporting both emergency services and planned hospital visits. Headquartered in Redhill, Surrey, E-zec employs 1,500 specialist staff across 31 depots and in 2020, achieved revenues of £50m.
E-zec’s decision to partner with Cairngorm Capital was prompted by the retirement of majority owner, Paul Swann. Cairngorm Capital partners with strong, ambitious management teams providing capital, strategic advice and operational best practice to drive transformational growth in their companies. The firm’s investment will enable Andy Wickenden, Managing Director, and E-zec’s executive team to strengthen its data analytics and use the insights to deliver enhanced performance and innovation to commissioners and patients.
E-zec will also benefit from expert strategic guidance and support from across the Cairngorm Capital network. Iain Bell joins as Chief Operating Officer, working with Andy Wickenden, to help the executive team to deliver transformational growth. The company will receive further support from a strengthened Board led by Mike Kerins, who joins as non-executive Chairman. As the current Chairman of Millbrook Healthcare and the former CEO and President of industrial distribution firm, Cromwell Group, Mike brings invaluable expertise in developing and growing businesses. He is supported by Shepard (“Colie”) Spink, who joins as non-executive director, contributing his extensive investment and operating expertise following a long career with operational consultants and investors Alvarez & Marsal.
Andy Wickenden, E-zec’s Managing Director said, “E-zec is at a really exciting point in its development and is ready to capitalise on numerous growth opportunities. We have ambitious goals to fulfil but E-zec has world-class foundations, with strong investor support, first-rate employees and a well-deserved reputation for delivering high quality and responsive services. I look forward to the next phase of its development.”
Cairngorm Capital’s investment was led by Dr Amit Thaper and Panita Vongkusolkit. Dr Thaper explained, “E-zec is an excellent company that supports service users in accessing health care services, while also ensuring that the NHS is able to operate at the highest level. In a post-Covid environment, we expect the services that E-zec provides to become even more important. E-zec has exciting growth potential, and is run by passionate individuals. E-zec’s dedication to its stakeholders is present throughout the organisation and we are excited to partner with Andrew and his team.”
Paul Swann, majority owner of E-zec said, “I am extremely proud of all that we have achieved at E-zec to date – we are performing strongly, have established a great management team and are well-prepared for the future. Consequently, I believe that this is the appropriate time for me to step aside and for E-zec to progress with new owners, who will ensure that it fulfils its potential. Cairngorm Capital is the right partner for the management team and will continue to focus on delivering excellent service to all of our key stakeholders.”