Milestone Capital Partners LLP (“Milestone”), the Anglo-French private equity firm, is pleased to announce that it has completed the successful exit of Winncare SA (“Winncare”) to IDI, the Paris-listed private equity firm, for an undisclosed consideration.
Winncare (www.winncare.fr) is the French market leader of durable medical equipment to elderly patients with strong presence in bed-sore prevention products and medicalised beds. Under Milestone’s ownership, Winncare sales grew from EUR14m in 2005 to EUR45m in 2013 as a result of acquisitions and new product launches.
Erick Rinner, Managing Partner at Milestone commented:
“Milestone will have held Winncare for almost 10 years and the company has made 4 acquisitions in three countries, tripling revenues and EBITDA during the period, while repaying 100% of its senior debt. Winncare successfully went through several legislation changes in France,to which the company adapted very successfully. I would like to thank Philippe Chêne, CEO and his team with whom we have been able to position Winncare as the clear market leader for durable medical equipment in retirement homes and home care segments. The team has had a very impressive performance for the last three years through the economic crisis with a stronger position than ever.
Guy Ferré, non-executive Chairman of Winncare said: “it has been a great experience to be part of the team with Milestone and Winncare’s management to build, adapt and implement a profitable Strategy along years especially through the challenging economic environment and the changes of regulation and financing rules in the health sector. I have been impressed by the ability of employees to develop quickly the right innovative products, to convince the market and find the means to make constant progress in productivity.
Milestone is an independent private equity firm investing in buy-and-build situations, owned and controlled by its partners, which manages over €200m and invests mainly in the UK and France. Milestone seeks to identify and invest in experienced management teams with a strong track record. Working in close collaboration and partnership with these management teams, Milestone executives will deliver strategic business input and significant industry contacts, ensuring maximum business performance and strong long term shareholder returns.
Winncare is Milestone’s third exit since 2011 following its successful exit from Cadum in 2012 (to L’OREAL) and Coffee Nation in 2011 (sold to Costa Coffee).
Milestone has six investment professionals based in London, Paris and Brussels.
Milestone Capital Partners LLP is a limited liability partnership registered in England (registration number OC330235) and is authorised and regulated by the Financial Services Authority. It is also a member of the BVCA and AFIC. The information contained within is for informational purposes only and is not a solicitation or offer to invest within any fund offered or marketed by Milestone.
Milestone’s deal advisers:
Banque Leonardo (Francois Rivalland, Philippe Charbonnier)
Travers Smith (David Patient, Andrew Gofton-Salmond)
Arendt, Luxembourg (Pierre Beissel, Claire Guilbert)
Constantin (Jean-Paul Séguret, Denis Cyrille)
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