Established in 1997, Network Medical is a leading innovator and manufacturer of ENT and ophthalmic surgical equipment.
With an existing, long-standing relationship, the American PE firm, Shore Capital approached Network Medical with the option to acquire the company. The shareholders knew that Shore Capital had the necessary sector expertise, which combined with shared values and ethos, made it an attractive proposition. As a member of the Institute of Directors (IoD), Network Medical instructed Avondale, the IoD’s preferred M&A provider, to assist them.
At this time, Network Medical were in the process of developing a number of revolutionary new products and introducing others to the market. Avondale needed to carefully balance the operational needs of the business alongside the discussions with Shore. When the time was right Avondale’s lead advisor gained agreement for a deal that reflected the fast growth Network Medical was delivering.
The transaction was complex due to the cross-border nature, the group structure with numerous shareholders, and property owned within the group. However, Avondale kept momentum behind the negotiation, and all parties were delighted to complete in Q1 2018.