Silverfleet's Care Fertility nears sale to Nordic Capital

Care Fertility could achieve an enterprise value of nearly GBP 300m, two sources said.

Nordic Capital's bid is expected to draw a line in a highly competitive auction that was launched last month by sell-side adviser Rothschild, with first-round bids going in on 24 January, according to three sources familiar with the situation.

The process has accelerated, having attracted an array of bidders including Bain Capital, CVC, CapVest and KKR, three sources said. Nordic Capital has pre-empted a final round of bidding that Rothschild had pencilled for 7 February, the first source added.

Care Fertility's sale comes at a time when its incumbent sponsor, Silverfleet, has shelved plans to raise a third flagship fund, turning its focus to follow-on investments and realisations in its existing portfolio, as reported by Unquote.

Silverfleet acquired the asset in a secondary buyout from Bowmark Capital for an undisclosed sum in 2019.

Headquartered in Nottingham, England, Care Fertility was founded in 1997 and has grown to more than 10 full-service clinics supported by 13 satellite facilities across the UK and Ireland. The company specialises in IVF, ICSI, egg donation, egg freezing and genetic testing of embryos with PGT-A and PGT-M.

Nordic Capital, Blackstone Credit, Silverfleet Capital and CapVest declined to comment. Bain, CVC and KKR did not immediately respond to requests for comment.

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• Topics
• Exits
• Buyouts
• UK / Ireland
• Healthcare
• Nordic Capital
• Silverfleet Capital
• Mergermarket