Seller

investment from

buyer

Rickitt Mitchell have advised Veincentre on their fundraising with Santander

- Growth deal

- February 2020

- Value: Undisclosed

Helped devise a national roll-out programme across 13 sites

Achieved strong valuation and significant cash-out for shareholders whilst maintaining a majority stake

Process positioning and strategy attracted strong interest from private equity

Client Background

Veincentre had grown to be the UK’s preeminent provider of non-invasive venous insufficiency treatment, bridging the lack of NHS service provision for a potentially debilitating condition.

Shareholders Dr. David and Deborah West wished to find an investor that would provide capital to accelerate Veincentre’s roll-out plans and enable them to realise significant cash out.

Rickitt Mitchell was appointed to find and transact with an investor that could meet these objectives.

Rickitt Mitchell have advised Veincentre on their fundraising with Santander
Rickitt Mitchell have advised Veincentre on their fundraising with Santander

The Outcome

Rickitt Mitchell has successfully advised Veincentre on a refinance process which has resulted in significant funds being received from Santander. This follows investment from Manchester-based Palatine Private Equity in July 2019.

Veincentre, a provider of treatment for varicose veins, plans to utilise the funds to facilitate the expansion of additional clinics, as it looks to launch a Liverpool site in the first quarter of 2020 and a further two new clinics before the end of the year.

The Company will also invest further in digital transformation with the development of a new website and digital marketing strategy.

Veincentre was advised by Neil Mitchell and Kaine Smith at Rickitt Mitchell.

How we added value

Co-ordination and strong process management led to a highly competitive process with multiple bidding rounds, resulting in a 30% uplift from original offers.

Rickitt Mitchell helped create a national roll-out programme and supporting detailed model that the investment case was based upon.

Rickitt Mitchell subsequently supported Veincentre on a £3m competitive fundraising process which will be utilised to accelerate its national expansion and invest in its digital marketing strategy.

“Neil and Kaine at Rickitt Mitchell have been hugely professional and supportive in delivering an excellent result. I can’t commend them highly enough”.

- Maurice McLoughlin | CEO | Veincentre
Seller

ACQUIRED BY

buyer

Growth deal

Value: Undisclosed

June 30, 2022

Seller

Acquired by

buyer

Exit deal

Value: Undisclosed

Oct. 31, 2021

Seller

Joint Venture

buyer

Growth deal

Value: Undisclosed

Oct. 13, 2021

Seller

Acquired by

buyer

Exit deal

Value: £9m

Sept. 30, 2021