H2 Equity rolls firms into new health group
Private equity firm H2 Equity Partners has announced plans to combine two Irish-linked businesses in which it has invested.
The company is looking to create "a new market-leading group in healthcare and scientific sales & distribution".
It plans to combine Aquilant - which it recently acquired from Irish group UDG Healthcare - with Healthcare 21, a Cork-based company in which it has taken a 49.9pc stake.
Both companies are distributors of healthcare-related products. H2, which has also invested in Tyrone-based BA Components, said the plan was being carried out in partnership with the other shareholders in Healthcare 21.
"The combined companies will have a turnover in excess of €150m and employ 450 people across Ireland, the UK, Germany and Austria," H2 Equity Partners said in a statement yesterday.
"The businesses complement each other extremely well and the combined group offers an expanded product portfolio in many exciting therapy areas. In addition, the combined group's infrastructure and expertise will ensure that both companies can maintain focus on their current plans and continue to deliver world-class outcomes for their customers and suppliers alike," the company added.
"Healthcare 21, Aquilant and H2 Equity Partners expect to accelerate the growth of the combined group as we drive to become Europe's largest and best-in-class provider of outsourced sales, marketing and service solutions for the new group's suppliers and customers." H2 was advised on the purchase of Aquilant by the European arm of XMS Capital Partners led by Conor Barry.