£40m Nottingham fertility clinic group swaps private equity owners
The private equity owners of Nottingham-based fertility clinic group CARE Fertility have sold the company to a counterpart.
Silverfleet Capital has bought the company, which specialises in IVF treatment and has aided in the conception of 30,000 babies, from Bowmark Capital.
Established in 1997, CARE operates nine full-service fertility clinics supported by a network of 13 satellite facilities. The company turns over nearly £40m a year.
Under Bowmark’s ownership, CARE has expanded its operations, adding clinics in London, Tunbridge Wells, Bath, Birmingham and Dublin.
Simon Fishel, founder of CARE, said: “With Bowmark’s help, CARE has grown in scale but never lost sight of the importance of delivering the best outcomes for our patients. Much has been achieved since the birth of the first IVF baby in 1978, but so much potential remains to further our understanding of infertility and we look forward to embarking on the next phase.”
CARE’s chief executive, David Burford, added: “With Bowmark’s support, we have made excellent progress over recent years expanding our clinic footprint, investing in our operations and continuing to improve our success rates.”
David Torbet, Bowmark partner, said: “It has been a privilege to be involved in CARE and to work with the management team to grow the business. CARE has always led the fertility market in seeking to give patients the very best chance of having a baby, and we wish the company continued success under its new owners.”
Bowmark Capital was advised by KPMG, and CARE’s management team was advised by Deloitte.