Bowmark backs Care Fertility Group MBO
Bowmark Capital has backed the management buyout of UK fertility clinic Care Fertility Group in a deal said to be worth ТЃ60m.
The GP acquired the company in a limited auction, reportedly beating off competition from other private equity players. The vendor was advised by KPMG Corporate Finance.
Bowmark plans to open several new clinics across south-east England and in Dublin. It bought the company from its parent, independent healthcare provider General Healthcare Group (GHG).
Company
Care was established by GHG and three clinicians at The Park Hospital in Nottingham in 1997. It now runs four IVF clinics in Nottingham, Manchester, Northampton and Sheffield and a further nine satellite centres. The company employs around 150 staff in total.
People
Partners Mark Salter and David Torbet carried out the deal for Bowmark Capital. Clinicians Dr Simon Fishel, Dr Ken Dowell and Dr Simon Thornton are founding members of Care.
Advisers
Equity – SJ Berwin (Legal).
Vendor – KPMG Corporate Finance (Corporate finance); Browne Jacobson (Legal).
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