Souter Investments, the private equity focused family investment office, has backed Duke Street Capital’s acquisition of ForLife and Trio Healthcare, which combine to create a leading European ostomy care specialist.
The transaction is Souter’s sixth deal with Duke Street and follows recent new co-investments in AGITO Medical and Suir Engineering.
ForLife Group (“ForLife”) is a European medical device developer, manufacturer and distributor of specialist stoma care products. The acquisition of the business and assets of Trio Healthcare adds the company’s innovative Sil2™ Breathable Silicone Technology and Genii™ products to ForLife’s portfolio of STOMOCUR® ostomy solutions. The deal also includes ForLife’s development and production centre in Berlin, as well as UK distributor Oakmed Healthcare.
The transaction creates a scaled, high growth European leader in the ostomy care market. Duke Street’s investment will strengthen the group’s product portfolio and development activities and substantially increase its distribution capabilities across Europe, allowing for greater availability of Trio’s Genii™ and Sil2™ technology to more patients.
ForLife was previously owned by GHD GesundHeits GmbH (“GHD”), a German homecare specialist. Following the divestment, GHD and ForLife will remain close partners and continue to serve ostomy patients in Germany.
The ForLife and Trio investment continues an active period for Souter Investments, which provides independent, flexible capital, partnering with entrepreneurs and management teams to grow category leading businesses. Souter holds investments in more than 45 private companies in the UK and overseas.
Other recent deals have included a partnership with Buckthorn Partners to acquire Acteon which provides advanced systems engineering, geo-services, marine engineering, and energy services; the acquisition of Premier Hytemp, a global turnkey partner for the energy industry combining the supply of high-value, scarce, exotic metals with precision machining and finishing of specialist mission components for use in complex, high-stress environments; and Sumer, a buy-and-build company focused on the UK and Ireland SME accountancy market led by Penta Capital.
Souter Investments also holds a stake in Climate Impact Partners, a B-corporation back by Averna Capital which works with climate-leading companies and organisations to develop, finance and support projects that reduce carbon emissions, improve health and livelihoods, and protect and restore biodiversity. Another portfolio company is Likezero, which is an AI enabled technology specialist delivering revolutionary real-time, contextualised, contract intelligence and counterparty risk management solutions to leading global financial institutions.
About Souter Investments
Souter Investments is one of the UK’s leading family investment offices, founded by Sir Brian Souter. Its team specialises in making private equity investments in unquoted companies, managing its capital in a supportive way that aligns the interests of investors, founders and management teams behind an agreed set of clear objectives.
A major beneficiary of Souter’s work is the Souter Charitable Trust, which supports projects engaged in the relief of human suffering in the UK and overseas.
Founded in 2006 with a sector-agnostic approach, Souter Investments has invested over £700m in more than 90 unquoted companies to build a resilient and diverse portfolio of successful, valuable, and sustainable businesses that are category leaders in their chosen fields.
For more information, please visit www.souterinvestments.com
For Souter Investments press enquiries please contact:
Will Torness, Charlotte Street Partners
Tel. 07384 678051
Souter@charlottestreetpartners.com
About Duke Street
Duke Street has backed growth in mid-market Western European businesses for over twenty years. The firm’s investment strategy is concentrated on four sectors: Consumer, Healthcare, Industrials & Engineering, and Services. Typically, Duke Street invests in companies with an enterprise value of between £50m - £350m, with the aim to transform the prospects of the companies that it invests in.
Duke Street has a long and successful track record of investing in and growing healthcare businesses. Since 1997, we have invested more than €600m in the sector, backing talented management teams to deliver significant value for its investors.
For Duke Street press enquiries please contact:
Felix Meston, Seven Dials City
+44 78415 18337