Graphite sells Sk:n to TriSpan after 13-year holding

Financial details of the transaction remain undisclosed, though the Sunday Times reports the deal valued Sk:n at approximately £35m, while publicly available documents reveal the company generated EBITDA of £3.2m before exceptional items in the year ending in August 2017. Graphite's 2006 acquisition valued the business in the £25-50m range, according to Unquote Data.

During the vendor's tenure, the business expanded its footprint from 18 UK-based clinics to 51 through a combination of new site openings and acquisitions. The company will continue to pursue a nationwide expansion strategy under its new owners.

Operating profit increased from £1.2m in the nine-month accounting period immediately following Graphite's acquisition to £1.4m for the full year ending in August 2017. However, turnover rose from £11.1m in the initial nine-month period to £29.3m in the most recent results.

At the time of publication, Unquote was awaiting a response from a Graphite spokesperson regarding the deal value and returns generated from the sale.

Previous funding
Graphite supported the buy-in management buyout of Sk:n from a sole private shareholder in 2006.

Company
Founded in 1986, Birmingham-headquartered Sk:n operates 51 clinics that offer non-surgical skincare and cosmetic treatments. The company provides services including acne treatment, laser hair removal, skin peels, mole removal and dermatology.

The group generated a turnover of £29.3m in the year ending in August 2017, according to the aforementioned documents.

People
TriSpan - Fady Michel Abouchalache (founding partner); Joseph-Patrick Dib (partner).
Sk:n - Darren Grassby (CEO); Simon Hope (chief financial officer).

Advisers
Vendor - Alantra, Bobby Fletcher, Steve Currie, Chris Bates, Justin Crowther (corporate finance).

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• Topics
• Exits
• Buyouts
• UK / Ireland
• Healthcare
• United Kingdom
• Graphite Capital
• Alantra
• Secondary buyout