Established more than 50 years ago, Vernacare is a manufacturer and distributor of single use hygiene products to hospitals and healthcare facilities designed to reduce cross infection, as well as surgical solutions to improve patient outcomes. The company’s patented system is a global leader in reducing infection during care for bed-bound patients, in addition to being safer for staff and environmentally friendly. Palatine Private Equity invested in the business, focusing on a strategy comprising acquisition and organic growth.

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  • Date: Nov 17
  • Industry: Manufacturing
  • Location: North West
  • Type: Acquisition
  • Revenue: £60m
  • Fund: Fund II

Funding Solution

TDC provided a £10.2m Second Lien loan to the Vernacare Group in November 2017 to facilitate the acquisition of Synergy HCS – a division of STERIS – a US-based healthcare products group.

TDC value add

The Steris acquisition significantly enhanced the business, broadening the product base and giving the enlarged Company access to international markets which it had struggled to access fully before. Following the successful integration, realisation of cost-synergies and expansion of the distributor base across Europe, which doubled the EBITDA, Palatine exited to HIG Capital.

Without your support, we would not have been able to conclude the HCS acquisition.  This has been a game changer for the business and whilst we have not yet had the full exit, we are in a good position going forward.

Andy Lees, Palatine Private Equity

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