Exponent sells BBI Healthcare to trade

The deal is valued at up to £36m, Venture Life said in a statement. The purchase price comprises £35m on completion of the deal, followed by a further £1m that will become payable on receipt of FDA approval for a new women's health product for the US market developed by BBI Healthcare.

Following the deal, BBI Healthcare managing director Claus Egstrand will leave the company, while its chairman Jean Forcione will remain a director of BBI Group.

Exponent acquired BBI from US-based listed healthcare company Alere in 2015 in a deal that valued the company at $164m. The GP has invested in BBI via its third and fourth funds, according to its website.

During the investment period, BBI has expanded its presence and operations in the US and China, according to Exponent's website. It also made three add-ons, the most recent of which was autoimmune antigen products supplier Diarect in June 2020.

Unquote sister publication Mergermarket reported in March 2021 that Exponent had mandated JP Morgan to run the exit process for BBI Group. The company is to be marketed based on EBITDA of £20m, the report added.

Company
Headquartered in Crumlin in Wales, BBI Healthcare produces consumer healthcare products, focusing on self-care brands for women's health, diabetes and energy management. BBI Healthcare was formerly part of BBI Group, which was founded in 1986. The company posted adjusted 2020 EBITDA of £2.6m and revenues of £10.2m.

People
BBI Group – Alan Peterson (chair); Mario Gualano (CEO).
BBI Healthcare – Jean Forcione (chairman).
Exponent – Chris Graham, James Gunton (partners).
Venture Life Group – Jerry Randall (chief executive).

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

• Topics
• Exits
• UK / Ireland
• Healthcare
• Trade sale
• Partial sale
• Exponent Private Equity
• United Kingdom