Countrywide Healthcare Supplies has secured a GBP2.7 million investment from Octopus Investments.
Countrywide was established in 1996 and operates from a purpose-built distribution centre in South Yorkshire.
With this investment Countrywide will continue to pursue its growth strategy as it looks to become the largest supplier to the UK care sector.
Octopus, which manages over GBP3 billion of assets, is building a reputation in the healthcare industry having backed the retirement village operator Rangeford and care home operator Carebase. Octopus will actively work with the company and leverage its expertise of the sector to provide support to the board.
Alastair Kitching, managing director at Countrywide, says: “When Jeremy and I were looking for a financial partner it was clear that the team at Octopus knew exactly what we were looking to achieve at Countrywide and the potential and growth that could be realised. They share the same vision we have, they understand the market and they are as enthusiastic and committed to delivering high quality customer service as we are.”
Edward Keelan, a member of the specialist finance team at Octopus, says: “Countrywide has achieved a fantastic level of customer satisfaction and has a growing base of customers. Its reputation in delivering exceptional customer service, combined with its talented management team and the growing needs of the UK care sector, make it well placed to realise its growth aspirations. We are looking forward to supporting the company as it seeks to become the leading supplier to the UK care sector.”
Kitching will now become managing director at Countrywide, while Jeremy Gilson, formerly the UK sales manager, will join the board as sales and marketing director.
