H2 acquires Aquilant from UDG for up to €23m

The deal will initially see H2 make an up front payment of €20.5m, with up to a further €2.5m payable based on the company hitting its gross profit targets in its current and next financial years.

The transaction forms part of the trade buyer's strategy to dispose of its lower-margin distribution businesses.

H2 is currently investing from H2 Equity Partners Fund V, which held its first and final close in March 2016 on its hard-cap of £200m.

Company
Headquartered in Basingstoke, Hampshire, Aquilant is a distributor of specialist medical, pharmaceutical and scientific products and services, including outsourced sales, marketing, distribution and engineering services. The company primarily serves clients in Ireland, the UK and the Netherlands.

According to a statement issued by the vendor, Aquilant generated net revenues of $96.3m in the year ending in September 2017, with an operating profit of $6.4m.

People
UDG Healthcare – Brendan McAtamney (CEO).

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• H2 Equity Partners