Vespa invests £17m in Bluecrest buyout

The transaction, which was conducted via newco Ambio Capital, will see a number of seed investors exit the business, while co-founders Peter Blencowe and Alex Higman will continue to lead the company.

Vespa is currently investing from its second fund, which held a final close on £120m in January 2017 and typically invests in companies with enterprise values of £10-70m.

Bluecrest will invest in the development of its digital services and intends to increase its number of corporate clients following the deal.

Company
Founded in 2012 and headquartered in Worthing, West Sussex, Bluecrest is a private provider of health screening tests to patients in the UK and Ireland. The business operates a network of mobile clinics that are intended to provide a lower cost alternative to those offered by traditional private providers. It has a client base of 350 businesses and also serves the consumer market.

People
Vespa Capital – Nigel Hammond (managing partner).
Bluecrest Health Screening – Peter Blencowe (managing director); Alex Higman (operations director).

Advisers
Vendor – Grant Thornton (corporate finance).

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• Buyouts
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• Grant Thornton