UK - Bestport and Close Ventures exit Grosvenor Health in £19.6m sale
Bestport Ventures and Close Ventures have exited their investment in healthcare provider Grosvenor Health Ltd through a trade sale to service company Serco Group for a total consideration of ТЃ19.6m.
The investors originally acquired the business in 2004 from Capio UK. The sale generated returns of 2.7x the money invested and an IRR of 37% for Bestport, while Close achieved an IRR of 35%.
The £19.6m valuation includes a £17.8m purchase price and £1.8m in surplus cash.
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