H.I.G. Capital, a leading global alternative asset manager with over €34 billion of equity capital under management, announced today that one of its portfolio companies, UK-based Vernacare, has carved-out the Infection Prevention business from Frontier Medical Group including the brands Sharpsafe®, Clinisafe® and eXchange™. Terms of the transaction were not disclosed.
The acquired businesses are industry-leaders in the infection prevention market providing an extensive range of sharps and clinical waste disposal solutions. Sharpsafe® was the world’s first purpose-designed plastic sharps container. With a customer base across the UK and Europe, the business operates from its site in Blackwood, Wales.
James Mitchell, Principal at H.I.G. Capital in London, commented, “The Frontier Infection Prevention business is a growing industry leader in the manufacture and supply of products that contain and dispose of infectious material safely – critical systems in protecting the Healthcare workforce and limiting the spread of infection. H.I.G. is looking forward to working with Frontier Medical’s Infection Prevention business which is highly complementary to Vernacare’s existing presence in the clinical Infection Prevention sector. We believe the combination will strengthen Vernacare’s market position and support an ambitious organic growth strategy; we will also continue to pursue similar accretive acquisitions in the sector across the UK and internationally over the coming years”.
James Steele, Chief Executive of Vernacare, added, “Frontier’s Infection Prevention business and Vernacare fit very well together with a common focus on best practice within Infection Prevention, and together, will be even better placed to help improve Infection Prevention standards within UK and overseas healthcare systems’’
Since its founding in 1993, H.I.G. has invested in and managed more than 300 companies worldwide. The firm’s current portfolio includes more than 100 companies with combined sales in excess of €27 billion.