Verna Group is a supplier of disposable pulp products, macerators, engineering services and wider medical equipment and services to the healthcare provider market. Headquartered in the UK, it is a top 30 supplier to the NHS, and serves over 40 countries globally.
Commenting on the deal, Catherine Houghton, Director at BOSIF, said: "We are delighted to have completed this investment and Frost & Sullivan made a valuable contribution to our work, with robust commercial analysis in a compact timeframe and an extremely responsive, committed and flexible team lead by Andrew Calvert and Matthew Anseau. We have been extremely impressed."
Andrew Calvert, Director of Private Equity at Frost & Sullivan, said: "Verna is a great business which has achieved significant growth and margin performance, and is now poised to achieve significant international expansion, as its Verna system is a key plank in infection control and a more environmentally sustainable hospital practices, as well as offering significant cost benefits to healthcare systems. It has a been a pleasure working with Catherine and the BOSIF team, as well as Verna CEO Karen Haslam and her management team, and we look forward to continuing to contribute to their growth."
Ken Herbert, Frost & Sullivan's Global VP, Financial Clients, added: "We are bullish on the outlook for healthcare opportunities in the near and long-term, with some particularly attractive and high-growth niches. Considering the current volatility in the markets, it is refreshing to see quality deals, such as Verna, still getting completed. Across the investment spectrum, we see many other businesses with extremely strong investment potential for both corporate and financial sponsors in the short-to medium term."
About Frost & Sullivan
Frost & Sullivan is a global advisory and research firm with a strong Private Equity and Financial Services practice that supports clients across the investment cycle, from origination and proprietary deal flow generation, evaluation and screening, and commercial due diligence, through in-portfolio value creation and exit. With over 1100 analysts and consultants across 31 offices globally, Frost & Sullivan has unmatched ongoing sector expertise across hundreds of markets.
About Bank of Scotland Corporate
Bank of Scotland Corporate, part of HBOS plc, has a reputation for excellence in the provision of corporate finance, delivering innovative funding solutions across a range of markets. Bank of Scotland Corporate employs over 8,300 employees. With experience across many areas of corporate finance, including Integrated Finance, Joint Ventures, Structured Finance, Acquisition Finance, Infrastructure Finance and Housing Finance, Bank of Scotland can draw on an expert pool of professionals with proven track records. Since launching its ground-breaking Integrated Finance unit back in 2000, the Bank has transacted over 100 deals with a total funding in excess of £10 billion. Today Bank of Scotland Integrated Finance provides funding to more mid-market MBOs than any other equity provider in the UK by providing a unique one-stop financing solution which meets all the funding requirements for a business undergoing a transaction.