PE investment allows Sheffield’s Preventx to make good on growth plans

Lender provides record £1.6bn to UK SMEs
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Preventx, a Sheffield-headquartered sexual health testing and diagnostic services provider, has received a significant minority growth investment from private equity firm Synova Capital.

Synova, making the first deal of its Fund IV, will support Preventx and its founders to deliver an ambitious growth plan.

In a joint statement, Neil Cooper and Tim Alston, founders of Preventx, said: “For this investment our primary aim was to bring in a partner that could really help us to scale up the business in order to achieve its full potential.”

They added: “With Synova on board we now have greater resources to strengthen our existing offering and also to explore new avenues for expansion.”

Tim Ashlin, Synova Partner and Head of Healthcare, said: “The opportunities for the company’s unique integrated diagnostic platform, underpinned by proprietary software are really exciting, and we are already partnering closely with the team to help unlock these.

“This investment fits closely with Synova’s approach of supporting high-quality management teams in high-growth sectors to deliver long-term value creation.”