H.I.G. Capital’s Vernacare Acquires Frontier Medical’s Infection Prevention Business
LONDON –14 July 2020
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,
“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’’
The new enlarged Group will now hold market-leading positions in the UK for macerators, moulded fibre, dry wipes, tubular bandages, sharps disposal and harm reduction packs whilst also holding market-leading positions in Canada (moulded fibre and macerators) and Belgium & France (sharps disposal) and globally as the market leader for macerators and moulded fibre.
An important part of the new enlarged Group business strategy is to lead with innovation whilst seeking to improve the standards and expectations of infection prevention. Examples of these types of innovations include Hands‐Free maceration from the Vortex/Compact range (a step-change in infection prevention standards) and the introduction of 20% recycled content within the Sharpsafe container range for the NHS Supply Chain (a step-change for the NHS Green Agenda). These types of initiatives are at the core of growing business.
H.I.G. is a leading global private equity and alternative assets investment firm with over €34 billion of equity capital under management.* Based in Miami, and with offices in New York, Boston, Chicago, Dallas, Los Angeles, San Francisco, and Atlanta in the U.S., as well as international affiliate offices in London, Hamburg, Madrid, Milan, Paris, Bogotá, Rio de Janeiro and São Paulo, H.I.G. specializes in providing both debt and equity capital to small and mid-sized companies, utilizing a flexible and operationally focused/value-added approach:
* Based on total capital commitments managed by H.I.G. Capital and affiliates.
- H.I.G.’s equity funds invest in management buyouts, recapitalizations and corporate carveouts of both profitable as well as underperforming manufacturing and service businesses.
- H.I.G.’s debt funds invest in senior, unitranche and junior debt financing to companies across the size spectrum, both on a primary (direct origination) basis, as well as in the secondary markets. H.I.G. is also a leading CLO manager, through its WhiteHorse family of vehicles, and manages a publicly traded BDC, WhiteHorse Finance.
- H.I.G.’s real estate funds invest in value-added properties, which can benefit from improved asset management practices.
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. For more information, please refer to the H.I.G. website at www.higcapital.com.