William Blair acted as the exclusive financial advisor to Primacy Healthcare 21 Limited (HC21), a portfolio company of H2 Equity Partners (H2), in connection with its sale to AddLife AB (OM:ALIF B). The transaction signed and closed on 12 April 2021.
Transaction Highlights
- Deep sector expertise and relationships: H2 and HC21 were attracted to William Blair's extensive Healthcare Distribution market knowledge and relevant transaction experience. Leveraging key insights and learnings from previous processes including strong relationships with the most likely buyers, the deal team effectively articulated HC21’s successful story, track-record of organic and acquisition-led growth and strategic importance to the UK and Irish Healthcare markets.
- Trusted guidance: William Blair’s transaction team successfully advised HC21 through each step of the process and closely collaborated on developing marketing materials, engaged with both strategic and financial buyers, coordinated an efficient due diligence process, and drove a competitive process which ultimately resulted in an impressive outcome for the shareholders, founder and management team.
- Highly strategic transaction: The transaction provides AddLife with a solid point of entry and a critical mass in two of Europe’s most attractive MedTech markets (the UK and Ireland), and presents compelling synergy opportunities given the nature of both Companies’ impressive supplier base and AddLife’s portfolio of proprietary brands.
About the Companies
HC21 is a leading independent distributor that offers solutions and high-quality products, adds customer value with its high level of clinical expertise, and provides services to public and private customers. The Group conducts business in 15 therapeutic segments, with products for emergency care, primary and home healthcare, diagnostics and surgery as well as services accounting for just over 50 percent of sales. The Group has a supplier base with strong brands. The supplier relationships are longstanding and 95 percent of the agreements are exclusive.
AddLife is a listed Swedish MedTech company active on the European market. The Group’s entrepreneur-driven subsidiaries offer high-quality solutions and products to both the private and public sectors. AddLife operates through two business units (Labtech and Medtech), offering a product portfolio consisting of both proprietary brands and products developed by other manufacturers. The service portfolio includes advisory services, technical service and training in all markets where the subsidiaries operate. AddLife currently has a presence in over 25 countries, mainly in the Nordic region, as well as in Central and Eastern Europe.
H2 Equity Partners is a leading independent investment firm founded in 1991, making investments in medium-sized companies with significant growth or improvement potential. The H2 team has built an exceptional track record of acquiring, strengthening and growing fundamentally attractive businesses. H2 invests in companies across all sectors, that have strong market positions and competitive advantages, which can benefit from the extensive international operating experience of the H2 team. H2 Equity Partners Fund V was launched in February 2017 and makes investments in the United Kingdom, Ireland and the Benelux. The di-vestment of HC21 represents the first exit of Fund V.
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