Key Facts
Initial investment: 08/10/2015
Sector: Health & Education
Fund: Buyout Fund III
Status: Realised
Investment Highlights
- Expanded distributor base in Europe, South East Asia and South America with international sales increasing by 66% over three years.
- Introduced and led the acquisition of HCS and assisted in preparing a detailed integration plan, identifying and implementing operational synergies and a site consolidation opportunity. HCS delivered annualised synergies of more than £1.5m.
- Introduced a chairman with extensive healthcare experience.
- Appointed an operations director to ensure focus on maximising operational improvements.
- Implemented ESG based efficiency initiatives resulting in the production of 6 % less water than reusable alternatives and up to 96% less energy.
Partnership Motivation
As inventors of the single-use system for patient toileting and cleansing, Vernacare was the market leader in the UK and had created a global presence in Europe, Africa, Asia, North and South America and Australia. We were highly impressed by the quality of the management team and their focus on further developing both the product range and driving overseas expansion into new territories.
In the last four years, Vernacare has made major steps forward in terms of scale and reach. A doubling of sales and profit though international growth and a strategic acquisition has strengthened the business and perfectly positions us to invest further in international markets and in buy and build. Palatine have been a great partner, providing the financial backing to support this growth and working with us in developing and implementing our strategy. We thank them and wish them well.
Vernacare
