During March 2020, Riverside Australia Fund III completed an investment into Independent Living Specialists, a leading Australian supplier and registered NDIS provider of hospital and home-care equipment.
Independent Living Specialists (ILS) was founded in 2004 by current, co-MDs Ian Farquharson and Peter Reid. The company sells and rents Assistive Technology products, operating via two main divisions: Retail and Clinical Services that are similar in size. The Retail division includes a bricks and mortar network of 22 showrooms as well as virtual (online and phone) channels both aimed primarily at individuals. The Clinical Services division has a field force of 35 clinically trained individuals that sell largely to organisations.
In recent years growth has accelerated, with ILS taking advantage of favourable market and government funding conditions to expand both divisions.
In an interview with ‘Crain’s Cleveland Business’ RAF III Partner Nick Speer explains “Riverside’s support will accelerate the national expansion, both organically and through bolt-on investments. We are delighted to be working closely with (co-founders Ian Farquharson and Peter Reid), who have built a wonderful platform, to support ILS in becoming the standout industry leader with the scale and capability to further service Australia’s aging and disabled population.”
