KCP backs YorkTest MBO

CBPE will sell its complete stake in the food intolerance testing business, which was originally a bolt-on for another of its portfolio companies, Ingemino. KCP will acquire a majority stake in the business with an investment of £8.6m, backing the incumbent management. The deal was prompted by the management and no debt was involved.

James Hall, a partner at KCP who led the investment team alongside Seb Wilkinson, will join the board of YorkTest. Meanwhile, the deal is the fourth for KCP's latest fund, which closed on £70m and makes buyout investments of £3-15m.

CBPE's Ingemino purchased a majority stake in YorkTest in 2011, with fresh capital provided by CBPE to finance the deal.

Company
YorkTest offers support to customers in identifying food intolerance and guiding them through dietary changes. The company has a York-based laboratory, with most of its sales made directly through its website. It trades under the brand names YorkTest and Lorisian.

In 2016, the company generated £3.7m in sales, with profit before tax of £855,378. Its largest market is the UK.

People
YorkTest – Rachel Jansen (managing director).
Key Capital Partners – James Hall (partner).

Advisers
Equity – Addleshaw Goddard (legal); BDO (financial due diligence); CIL (commercial due diligence); PwC (tax).

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Buyouts
• Exits
• Healthcare
• UK / Ireland
• Close Brothers Private Equity (CBPE)
• United Kingdom