Tikehau Capital invests in medical devices manufacturer
Tikehau Capital, through its pan-European growth equity fund, is conducting a £23m (€26m) private equity investemnt in Medtrade Products Limited, a UK medical devices provider.
Medtrade is focused on woundcare, a market estimated at some $9.8bn globally, and consumer healthcare. Tikehau Capital's investment is intended to support and accelerate the company's growth, including global expansion.
Annual results to February 2018, issued in June 2018, reported turnover jumped 34% forthe year, or 18% adjusted for FX. Operating profit doubled to £6.1m, with operating profit up 28% on a like for like basis - results available at Companies House show. The copmany's advanced wound care products are supplied on an OEM basis and sold under customer's brands.
Tikehaul Capital's investment marks the fifth such transaction by the relevant portfolio in the past 12 months, the manager noted. Its overall assets under management stood at some €22bn as at 31 December, 2018.
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