Medical manufacturer gets PE investment

A manufacturer of synthetic calcium has completed a £100m+ deal with private equity firm TA Associates.

Keele-based Biocomposites develops innovative calcium compounds for surgical use. Its bone graft matrices can be used in the presence of infection for regenerating bone and managing dead space in a range of orthopedic procedures.

The company sells directly to hospitals and through independent distributors, with the US representing its largest market.

Research, manufacturing and distribution is handled in-house at the company’s Keele headquarters and it has sales representative offices in Wilmington, North Carolina and Shanghai, China.

Latest company accounts available show the company made a pre-tax profit of £7.9m on a turnover of £15.7m in the year to the end of December 2015. At the time it employed 66 staff.

Details of the deal with London-based TA were undisclosed but it is understood to be worth well over £100m. The private equity firm said it will “focus on supporting Biocomposites’ growth and building further value in the business”.

TA typically supports buyouts and funding deals of profitable growth companies in five sectors, including healthcare.

Jonathan Boyers of KPMG advised Biocomposites on the deal.