Seller

investment from

buyer

Rickitt Mitchell advised Management on the Acquisition of Veincentre by CBPE Capital

- Growth deal

- October 2022

- Value: Undisclosed

Veincentre was founded in 2003 to offer non-invasive, non-surgical treatment for varicose veins.

This is the second transaction that Rickitt Mitchell have advised Veincentre on, the first being investment from palatine in 2019

Based on a roll-out plan Rickitt Mitchell helped construct, Veincentre has increased their number of clinics from seven to twenty two

Client Background

Veincentre was founded in 2003 by clinician Dr David West and his wife Deborah to offer non-invasive, non-surgical treatment for varicose veins called Endovenous Laser Ablation.

Rickitt Mitchell’s relationship with Veincentre began in 2018 when we were appointed by the founders to help them find an investor to enable them to partially exit the business and provide an injection of cash into the business to enable it to grow. 

During 2019, Rickitt Mitchell helped create a national roll-out programme and supporting detailed model that the investment case was based upon. A highly competitive private equity investment process was conducted, resulting in a 30% uplift from original offers, creating significant value on day one for the founders, whilst partnering with a professional investment house to benefit from the significant upside from the growth to come.

 

 

Rickitt Mitchell advised Management on the Acquisition of Veincentre by CBPE Capital
Rickitt Mitchell advised Management on the Acquisition of Veincentre by CBPE Capital

About the Deal

Veincentre was founded in 2003 by clinician Dr David West and his wife Deborah to offer non-invasive, non-surgical treatment for varicose veins called Endovenous Laser Ablation.

Rickitt Mitchell’s relationship with Veincentre began in 2018 when we were appointed by the founders to help them find an investor to enable them to partially exit the business and provide an injection of cash into the business to enable it to grow. 

During 2019, Rickitt Mitchell helped create a national roll-out programme and supporting detailed model that the investment case was based upon. A highly competitive private equity investment process was conducted, resulting in a 30% uplift from original offers, creating significant value on day one for the founders, whilst partnering with a professional investment house to benefit from the significant upside from the growth to come.

 

 

"Having provided such invaluable advice to the shareholders during the initial transaction with Palatine back in 2019, the current management team, including myself, trusted Rickitt Mitchell to provide strong, independent advice during negotiations between the incumbent shareholder group and CBPE. Rickitt Mitchell provided exceptional support throughout and were always on hand to help fight our corner."

- Maurice McLoughlin | CEO of Veincentre
Seller

INVESTMENT FROM

buyer

Growth deal

Value: Undisclosed

Nov. 2, 2022

Seller

investment from

buyer

Growth deal

Value: Undisclosed

Oct. 31, 2022

Seller

ACQUIRED BY

buyer

Growth deal

Value: Undisclosed

June 30, 2022

Seller

Acquired by

buyer

Exit deal

Value: Undisclosed

Oct. 31, 2021