IRELAND
2023
SELL-SIDE
Our M&A Worldwide Irish Partner, Focus Capital Partners advised the shareholders of the Avoca Clinic on their €7m equity investment from BGF.
Investment fund BGF has announced a €7 million investment in the Avoca Clinic, an Irish cosmetic surgery practice.
The Avoca Clinic employs about 40 people, including specialist plastic surgeons, across its clinics in Wicklow, Limerick and Dundalk. It offers a range of surgical and non-surgical treatments, including breast, body and facial procedures, on both an in-patient or out-patient basis. BGF will take a “significant” minority stake in the business in line with its focus on supporting founders and owners to “grow their businesses and realise their potential”.
Founded in 2012, the Avoca Clinic is led by chief executive Niamh Murdock and sales director Ailish Kelly, a mother and daughter team who have worked in the cosmetic surgery sector for 25 years.
Commenting on the deal, Ms Murdock said: “This investment, and the expertise that BGF and Noel Daly as our chairman will bring, will support our plans to expand our surgical capacity and footprint across Ireland in this next phase of growth for the clinic.”
Lauren Sharpe of BGF will join the board of the clinic while Noel Daly will become its non-executive chairman. Mr Daly has more than 40 years’ experience in healthcare systems and is currently chairman of Eakin Healthcare Group, a Northern Ireland-based manufacturer of healthcare products.
BGF’s Ms Sharpe said: “This partnership underscores our confidence in the clinic’s potential to grow regionally and expand its offering.”
Source: IrishTimes.com