HIG Capital acquires Vernacare
An affiliate of HIG Capital has acquired Vernacare Limited (Vernacare), an international healthcare products specialist. Terms of the transaction have not been disclosed.
Established in 1964, Vernacare is an industry-leading manufacturer of infection control systems. It has pioneered single-use toileting systems globally, offering patients hygienic care and provides healthcare institutions with efficient, cost effective and environmentally sound toileting and bathing solutions. With sales in over 60 countries, the business employs over 250 people across its UK headquarters in Chorley, its manufacturing plant in Bolton and its Canadian base in Toronto.
James Mitchell, Principal at HIG Capital, says: “Vernacare is a growing industry leader in the manufacture of products that contain and dispose of infectious waste – critical systems in limiting the spread of healthcare associated infections. HIG is looking forward to working with Vernacare to help the company strengthen its international presence through organic growth, while also seeking M&A opportunities in the medical consumables market that complement its existing product set."
Matt Miller, Chief Executive of Vernacare, says: “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 strategic acquisition has strengthened the business and perfectly positions us to invest further in international markets and in buy and build. We are delighted to be backed in our next growth phase by HIG Capital whose ambition and enthusiasm for the business is as strong as ours; we look forward to an exciting and rewarding partnership over the next few years as we invest further in our organic and buy and build growth strategy."