The deal sees private equity firm HIG Capital acquire the North-West based business.
Established in 1964, Vernacare is an international healthcare products manufacturer, with infection-prevention as its core focus, with sales in excess of £60m in 64 countries.
Since Palatine invested in 2015, Vernacare has increased its global footprint with overseas turnover almost doubling to more than £20m.
In 2017, the company acquired and successfully integrated Synergy HCS, a manufacturer of wound care and surgical products, adding significant scale and expanding its product range.
‘Palatine have been a great partner, providing the financial backing to support this growth and working with us in developing and implementing our strategy,’ said Matt Miller, chief executive of Vernacare. ‘We are delighted to be backed in our next growth phase by HIG Capital. In working with the team on the deal it has become clear their ambition and enthusiasm for the business is as strong as ours and we look forward to an exciting and rewarding partnership over the next few years as we invest further in our buy and build and organic growth strategy.’