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Travers Smith advises Kester Capital on the sale of its Infection Prevention business

Overview

Travers Smith LLP has advised long-standing client Kester Capital LLP (Kester Capital) and its portfolio company, Frontier Medical, on the sale of its Infection Prevention business in a carve-out to Vernacare, backed by H.I.G Capital.

The exited businesses are industry-leaders in the Infection Prevention market providing an extensive range of sharps and clinical waste disposal solutions. Sharpsafe®, a core brand of the Infection Prevention business, 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.

Frontier’s core division, Frontier Therapeutics, a leading provider of differentiated skin and wound care products comprising the Repose®, Toto® and Dermisplus® brands, will continue to operate as usual under the direction of the existing management team led by Simon Jackson, backed by Kester Capital.

Kester Capital acquired Frontier Medical Group in 2013 and has helped it to grow from a successful family-owned business into a global medical device business with significant revenue, EBITDA and head count increases since its investment.

Headquartered in Blackwood, Wales, and founded in 1966, the Frontier Medical Group has grown to become a leading manufacturer and supplier of pressure ulcer prevention and infection control prevention products to healthcare providers in the UK and its export markets around the world.

Travers Smith previously advised Kester Capital on its acquisition of the Frontier Medical Group in 2013.

Cameron Crockett, Managing Partner at Kester Capital, said: “We are very pleased to have completed the sale of the Infection Prevention business of Frontier Medical to Vernacare, a strategically complementary fit.  Our focus is now to continue to support the Skin and Wound Care business, Frontier Therapeutics, and to accelerate the international growth of this part of the business by capitalising on its strong clinical and market position.”

The Travers Smith team was led by Head of Private Equity & Financial Sponsors Paul Dolman, supported by Senior Associate Tom Hartwright and Associates Alex Watt and Caleb Jones. Specialist advice was provided by Tax Partner Hannah Manning, Tax Senior Associate Silvana Van der Velde and Tax Associate Hugh Brooks, Finance Partner Matthew Ayre and Finance Associate Katie Moran, Real Estate Senior Associate Catherine O'Driscoll and Head of Operational Risk & Environment Doug Bryden and Operational Risk & Environment Associate Harrie Narain.

Sidley Austin LLP advised H.I.G Capital and Vernacare.

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