Private equity firm NVM has sold its investment in offshore medics service Abermed to medical assistance provider International SOS.

Private equity firm NVM has sold its investment in offshore medics service Abermed to medical assistance provider International SOS.

NVM, which invested £2.5 million to support a management buy-out (MBO) at Abermed in 2005, has doubled its money in the sale, representing an internal rate of return of 21 per cent.

James Miller, managing director of Abermed, says the company complements the acquirer’s business, adding, ‘Abermed has… expertise in the North Sea and International SOS has [the] ability to distribute healthcare services worldwide.’

The business, which specialises in the oil and gas market, has expanded from 135 to 360 staff since the MBO on the strength of acquisitions across Scotland as well as a move into Kazakhstan through its subsidiary company Kazanada.