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.
Noerr’s Holger Ebersberger and Latham & Watkins’ Hanno Witt to join the firm’s Munich office
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VC firm aims to raise USD 75m-150m from private and public investors including blue-chip institutional LPs in Europe, MENA and US
More than twice the size of its 2019 predecessor, the vehicle will allow for larger equity tickets, more investments and bolt-ons