CBPE in exclusivity to acquire Palatine-backed Veincentre

The owners of the varicose vein treatment clinics appointed Grant Thornton to explore a sale earlier this year, as reported. The company was due to be marketed off an EBITDA of GBP 5m-6m.

Palatine owned a substantial minority in Veincentre alongside its founders but the sale process was aiming to attract a majority investor, as reported. The sponsor first invested in 2019.

Veincentre has between 15-20 clinics across the UK, according to its website, and has opened eight new locations since Palatine's investment, according to the sponsor's website.

CBPE has invested widely across the healthcare sector with current portfolio assets including prosthetics manufacturer Blatchford and a minority stake in fertility clinic chain ARGC.

It sold Optima Health to Marlowe [LON: MRL] in January 2022 for a 6.5x return and Rodericks Dental to CapVest two months later.

Palatine and CBPE declined to comment. Grant Thornton did not immediately respond to a request for comment.

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• Topics
• Exits
• Healthcare
• UK / Ireland
• Mergermarket
• Palatine Private Equity
• Close Brothers Private Equity (CBPE)
• Grant Thornton