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M&A Deal Summary

H.I.G. Private Equity Acquires Vernacare

On February 18, 2020, private equity firm H.I.G. Private Equity acquired medical products company Vernacare from Palatine Private Equity

Acquisition Highlights
  • This is H.I.G. Private Equity’s 6th transaction in the Medical Products sector.
  • This is H.I.G. Private Equity’s 17th transaction in the United Kingdom.

M&A Deal Summary
Date 2020-02-18
Target Vernacare
Sector Medical Products
Buyer(s) H.I.G. Private Equity
Sellers(s) Palatine Private Equity
Deal Type Secondary Buyout

Target

Vernacare

Chorley, United Kingdom
Vernacare is a provider of single-use infection control systems to the healthcare sector. It has pioneered single-use toileting systems globally, offering patients hygienic and dignified care and provides healthcare institutions with efficient, cost-effective and environmentally sound toileting and bathing solutions. Vernacare was founded in 1964 and is based in Chorley, United Kingdom.

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Buyer(S) 1

Buyer

H.I.G. Private Equity

Miami, Florida, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1993
PE ASSETS 65.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

HIG Private Equity is the private equity arm of HIG Capital. The Firm focuses on management buyouts, growth equity investments, and recapitalizations of mid-sized to large companies valued between $50 million and $1 billion. HIG will also consider industry consolidations, going-privates, and corporate divestitures. Sectors of interest include aerospace, building materials, business services, consumer products, distribution, healthcare, infrastructure, contracting, manufacturing, media, oil & gas services, IT, and transportation. HIG was formed in 1993 is based in Miami, Florida.

DEAL STATS #
Overall 259 of 383
Sector: Medical Products M&A 6 of 7
Type: Secondary Buyout M&A Deals 36 of 72
Country: United Kingdom M&A 17 of 30
Year: 2020 M&A 3 of 17
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-02-18 VIP Cinema Holdings

New Albany, Mississippi, United States

VIP Cinema Seating (VIP) is a designer, manufacturer, and assembler of premium seating solutions for the global cinema industry. VIP serves cinema exhibitors, large and small, with a wide selection of seating products that are fully customizable and able to be configured for all auditorium layouts. The company sells both premium recliners and smaller, concentrated seats, to address all needs of exhibitors. In addition to its product development capabilities and nearly 100% on-time delivery track record, VIP also provides all aftermarket parts for its products, serving as a one-stop-shop for all seating needs throughout the life cycle. VIP Cinema Holdings was founded in 2008 and is based in New Albany, Mississippi.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-02-20 SPORTFIVE

Altrincham, United Kingdom

SPORTFIVE is a globally active sports marketing business focusing on the buying & selling of sponsorship and media rights as well as brand consulting, event management and athlete management. Its success is built on long-standing relationships on a global scale paired with decades of experience and an innovative spirit to bring together brands, rightsholders, media platforms, and sports fans. SPORTFIVE is a trusted partner for business with the world’s leading clubs, leagues, and federations in established sports markets such as soccer, handball, and Olympics as well as in growth markets such as eSports. SPORTFIVE is based in Altrincham, United Kingdom.

Buy -

Seller(S) 1

SELLER

Palatine Private Equity

Manchester, United Kingdom

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2005
PE ASSETS 570M GBP
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Palatine Private Equity is a UK based private equity firm focused on investing in businesses valued up to £50 million. The Firm generally looks to fund profitable, cash-generative companies with strong management teams and established market positions, however, Palatine will also consider turnaround situations. Target sectors include retail/leisure, business outsourcing, financial services, healthcare, and niche manufacturing. Prospective transaction types include management buyouts/buy-ins, consolidations, growth capital financings, and restructurings. Palatine was originally formed as Zeus Private Equity in 2005. The Firm has offices in Bristol, Manchester, and London.

DEAL STATS #
Overall 13 of 26
Sector: Medical Products M&A 1 of 1
Type: Secondary Buyout M&A Deals 6 of 15
Country: United Kingdom M&A 13 of 26
Year: 2020 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-08-06 Veincentre

Stoke on Trent, United Kingdom

Veincentre provides specialist treatment for varicose veins, using Endovenous Laser Ablation (EVLA). Utilizing EVLA is a non-invasive, non-surgical procedure. Veincentre was founded in 2003 and is based in Stoke on Trent, United Kingdom.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-04-06 Acora

Burgess Hill, United Kingdom

Acora provides a range of IT support and cloud solutions to help mid-market organizations modernize infrastructure and operate in the digital economy. It offers a full-service suite, from service desk through to cloud transformation and ongoing managed service of cloud applications and infrastructure. Acora is based in Burgess Hill, United Kingdom.

Buy -
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