Seller

Investment from

buyer

Rickitt Mitchell advises Veincentre on its investment from Palatine Private Equity

- Growth deal

- August 2019

- Value: Undisclosed

Process positioning and strategy attracted strong interest from private equity

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

Helped devise a national roll-out programme across 13 sites

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 advises Veincentre on its investment from Palatine Private Equity
Rickitt Mitchell advises Veincentre on its investment from Palatine Private Equity

The Outcome

An impressive valuation was achieved. The investment thesis of Palatine’s social impact fund aligned perfectly with the affordable, ethical provision of services by Veincentre.

The deal enabled the shareholders to extract significant value from Veincentre whilst they and management still retained a majority share in the business.

Veincentre is now well placed to grow rapidly via its roll-out strategy.

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 has 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