Tunstall Group Acquired by Bridgepoint in £225m Deal; Tunstall Acquires Attendo Systems and Respons

From: Tunstall
Published: Tue Jun 14 2005

Tunstall, a European market leader in personal and home reassurance telecare solutions, has been
acquired by private equity firm Bridgepoint from Hg Capital in a transaction worth a total of £225m.

At the same time, Tunstall has acquired Attendo Response and Attendo Systems, the Scandinavian market leader in telecare solutions, creating a group with combined annual sales of over £100m.

The acquisition of the Attendo companies will give Tunstall a larger international footprint, especially in Scandinavia. In the UK, Tunstall Response will be integrated with Attendo Response to provide greater scale and a more effective platform for growth. The integration of the Attendo Systems and Response businesses (with the exception of Attendo Systems UK) into the Tunstall Group will create a company with a strong position virtually every major global telecare market.

James Buckley, UK managing director of Tunstall, who will become group CEO, said: "The compelling economics of telecare solutions are reflected in the growth in sales across Europe, and we are now in an ideal position to move to the next phase of growth as the telecare market leader.

"Telecare brings substantial benefits by allowing older people to remain independent and in their own homes for longer. It delivers cost-effective solutions for local authorities by reducing the need for residential care and can alleviate the pressure on healthcare services."

Rob Moores, a partner at Bridgepoint, added: "Tunstall already has a track record of strong revenue and profit growth on the back of favourable demographics and increasing awareness of the benefits of the telecare concept. By combining Tunstall with Attendoís Systems and Response division, we will be well positioned to benefit from these trends and improve telecare penetration rates not just in the UK but in continental Europe."

As CEO of Tunstall, James Buckley will be supported by the current senior management team. Tony Rice, Tunstallís Chief Executive for the past three years, is stepping down on completion of the transaction but has accepted an invitation to become a non-executive director.

Tunstallís core solutions include alarm units installed in sheltered housing communities that enable residents to call for assistance when and if required. Lifeline home units provide the same reassurance for people living in their own homes. In both these circumstances risks to the person or property can be managed by the use of telecare which consists of a range of sensors placed around the home to monitor for potentially dangerous situations including floods, falls, smoke, carbon monoxide and intruders. When a sensor is activated it alerts the monitoring centre, where trained operators can either contact a friend, relative, doctor or call the emergency services. Users can also wear a personal alarm that allows them to communicate directly with the monitoring centre if necessary.

The company has also pioneered telehealth solutions which can monitor a patientís vital signs in their own residence, helping to release resources in the NHS.

Tunstall also provides monitoring centre software solutions to respond to alarms raised as well as providing support to monitoring centres. Support services such as consultancy, field support and maintenance services for telecare systems, monitoring centre software and equipment are also available.

About Tunstall
Established in 1957, Tunstall is a leading European manufacturer and provider of personal and home reassurance telecare solutions and response centre systems. Tunstall makes independent living possible through the application of technology and the provision of services that protect, support and care for people. Tunstall operates in the UK, mainland Europe, North America and Australasia. For more information, visit www.tunstall.co.uk

About Bridgepoint
Bridgepoint is a leading European private equity firm focusing on investments in mid-market companies valued up to Ä500 million. See www.bridgepoint-capital.com for further details.

Company: Tunstall
Contact Name: Luke Ford
Contact Email: luke.ford@contextpr.co.uk
Contact Phone: 01625 511966

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