New investment company Impel Healthcare Catalysts has announced its first deal with the acquisition of a majority stake in ostomy company Trio Healthcare.
This is the first major deal for the Knutsford-based company, which was launched last month by Richard Anderson and Spencer Kerry, previously part of the management team of Crawford Healthcare.
Founded in 2006 by Lloyd Pearce, Trio Healthcare is based in Buckinghamshire and Skipton, Yorkshire, where it manufactures a range of ostomy products.
The deal will see Richard Anderson and Spencer Kerry join chief executive officer Lloyd Pearce on the Trio board.
‘As a massively untapped sector, the ostomy market is estimated to reach $4bn globally by 2021,’ said Anderson. ‘With its new ground-breaking technology in development, this is a real opportunity for an innovative company like Trio to disrupt a multi-billion-dollar market, so we’re excited to launch that in early 2020.’
Pearce said: ‘Impel’s extensive strategic experience and healthcare knowledge, coupled with the management team’s impressive track record to deliver rapid growth, is a great fit for Trio.
‘We have a loyal customer base which has got the company to where it is today, however with the support from Impel we feel confident to be able to take the business to the next level.’
Impel is said to be looking to invest in companies with enterprise values up to £50m.
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