YFM sells stake in Mangar Health

US firm takes over AIM listed Leeds group in £43m deal
Credit: Shutterstock.com/ ASDF_MEDIA

Leeds-based YFM Equity Partners (YFM) has sold its stake in Mangar Health for an undisclosed sum to French medical device company Winncare Group.

According to a company release, the sale delivered a 2.7x return to investors.

Mangar Health designs, manufactures and supplies inflatable bathing and lifting devices, which protect carers from injury and promote independence for people with limited mobility.

With a global reach into America, Canada and Australia, Mangar Health also offers a wide international distribution network and additional opportunities in healthcare markets such as emergency services.

The Company is led by CEO Simon Claridge and his team of Finance and Operations Director Craig Butcher, Commercial Director Andrew Macphail and Marketing Director Clare Birt.

Mangar Health was backed by British Smaller Companies VCT plc and British Smaller Companies VCT2 plc, both advised by YFM, in a management buyout in 2014.

Over the period of YFM’s investment, employment has grown by almost 50% to more than 70 staff.

This acquisition by Winncare Group provides a full exit for YFM’s funds and delivers a 2.7x return on investment (a 22% IRR).

Simon Claridge, CEO of Mangar Health, said: “Mangar Health has expanded significantly since the YFM investment. We appreciate their practical advice, strategic guidance and support in helping us fuel our continued growth over the past five years. They have been terrific partners and played an important role in helping us achieve our success.”

Ian Waterfield, Partner at YFM, said: “This is another example of YFM identifying and backing a niche business with significant growth potential. We have really enjoyed working with the Mangar Health management team, alongside chairman James Buckley, and we are sure that they will deliver further growth as part of the Winncare Group.”

YFM and the management team were advised by Christian Mayo, Stephen Leah and Joe Bainborough at KPMG and Pete Wood, Carly Gulliver and Caera Loughran at Addleshaw Goddard.