Hertfordshire based surgical equipment cleaning specialist Medisafe UK Limited has been acquired by multinational healthcare group Steris Plc in a £27 million pound deal supported by financial and business advisers Grant Thornton.
Founded in 1991 and headquartered in Bishop’s Stortford, Medisafe pioneered ultrasonic equipment for cleaning and disinfecting complex medical instruments. Its product range, manufactured in the UK, is sold to over 70 countries worldwide.
Through the acquisition of Medisafe, Steris Plc, a global leader in infection prevention, contamination control, surgical and critical care technologies, secures manufacturing and R&D facilities in the UK, and a suite of products and services to complement its own healthcare offering.
Grant Thornton’s Central and East of England Corporate Finance team expertly advised the Medisafe shareholders, leading a structured, competitive process to test the market, facilitate the transaction and maximise shareholder value.
Commenting on the deal, Medisafe UK Limited founder and CEO Lawrence Dawson, said: “We chose Grant Thornton for the team’s knowledge and M&A expertise in the sector. From start to finish they did an excellent job of leading us through a fairly complex process to execute what we believe is an attractive transaction for all stakeholders.
“The team were high calibre, committed and understood the challenges associated with an entrepreneurial business, as well as dealing with a multi-national corporation and its advisers.”
Tim Blois, corporate finance director at Grant Thornton who led the deal added: “Medisafe is a fantastic business with a range of great products. We are pleased to have assisted the shareholders to complete the transaction and achieve an excellent return on investment.
“The deal proves that innovative, entrepreneurial British businesses can be highly competitive on a global scale and remain sought-after assets regardless of the current political uncertainties.”
