Bank of Scotland Integrated Finance (BOSIF) has backed the secondary management buyout of healthcare manufacturing business Verna Group Holdings Ltd from LGV. The value of the deal is undisclosed. BOSIF takes a minority stake in the newco. Bolton-based Verna was acquired by LGV (formerly Legal & General Ventures) in a deal reported to be worth £60m in 2005. Since LGV’s acquisition Verna has sold a series of non-core businesses and focussed on the expansion of its core infection control product base. Under LGV’s ownership, the business has also invested £1.5m in its Bolton factory to support a new automation project and opened a new office in South Africa.
Multi-family office has seen strong appetite, with investor base growing since 2016 to more than 90 family offices, Meiping Yap told Unquote
Sponsor deploys Permira VIII to ride new wave of take-privates; Blackstone commits GBP 200m in financing for UK-based CRO
Sponsor acquired the public software group in July 2017 via the same-year vintage Partners Group Global Value 2017
EQT and Cinven seen as bellweather for funds to reassess options for listed assets trading underwater