Decision Nº M/13/008 from Competition and Consumer Protection Commission, 2013-04-17

Decision NumberM/13/008
PartiesLloyds Development Capital,NRS Healthcare,PIMCO 2927 Limited
StatusCleared (Phase 1)
Competition Authority clears proposed acquisition by
Lloyds Development Capital (Holdings) Limited through
PIMCO 2927 Limited of Nottingham Rehab Limited and
NRS Mobility Care Limited
The Competition Authority has today cleared the proposed transaction
whereby Lloyds Development Capital (Holdings) Limited, through PIMCO 2927
Limited, would acquire Nottingham Rehab Limited and its wholly owned
subsidiary NRS Mobility Care Limited. The proposed transaction was notified
under the Competition Act 2002 on 19 March 2013.
The Authority has formed the view that the proposed transaction does not
raise any competition concerns in the State. The companies have been
informed of the decision that the proposed transaction will not lead to a
substantial lessening of competition in any markets for goods or services in
the State and that the acquisition may be put into effect.
The Authority will publish a public version of the reasons for its determination
on its website ( no later than 14 June 2013 after allowing the
parties the opportunity to request that confidential information be removed
from the published version.
Lloyds Development Capital (Holdings) Limited (LDC) is a private equity
specialist, focusing on management buyouts, institutional buyouts and
development capital transactions, operating predominantly across the United
Kingdom through a network of regional offices and with its head office in
London. LDC is a wholly owned subsidiary of Lloyds Banking Group plc and
invests across a broad range of sectors although it has particular experience
in construction and property, financial services, healthcare industrials, IT and
software, leisure and media, retail and consumer and support services.
PIMCO 2927 is a shelf company, whose shares are to be owned at completion
of the proposed transaction by LDC and four existing managers of NRS
Healthcare. The proposed transaction involves the acquisition by PIMCO of all
the shares and therefore sole control of NRS Healthcare.
NRS Healthcare is the trading name of Nottingham Rehab Limited, including
its wholly owned subsidiary NRS Mobility Care Limited. Nottingham Rehab
Limited is currently a wholly owned subsidiary company of Findel plc. NRS
Healthcare is a UK based provider of equipment, supplies and services to

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