Current press releases
04 February 2008
LGV sells Verna Group
LGV Capital ("LGV") has sold Verna Group ("Verna"), the leading manufacturer and distributor of infection control products, to Bank of Scotland Integrated Finance ("BOSIF") for an undisclosed amount.
Bolton-based Verna Group is a market leader in the manufacture and supply of infection control products for the healthcare sector and is a top 30 supplier to the NHS. Its products are exported to 46 countries worldwide, and are used in 85% of UK Hospitals.
LGV acquired Verna in a management buyout in May 2005, led by Chief Executive Karen Haslam. Since LGV's acquisition Verna has sold a series of non-core businesses and focused on the expansion of its core infection control product base. Under LGV's ownership, the business has also invested £1.5 million in its Bolton factory to support a new automation project and opened a new office in South Africa.
Commenting on the sale, Bill Priestley, a Managing Director at LGV said, "Verna has been a very good investment for LGV. We were attracted to Verna's market-leading position in infection control products and were very pleased to have backed a first class management team. We wish the company continued success with its development in the years ahead."
Karen Haslam, Chief Executive of Verna added, "I am delighted to be leading Verna Group into the next phase of its development, backed by BOSIF. We have exciting plans for the business, building on LGV's investment, to expand our portfolio of infection control products and to grow our international sales."
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