Leeds private equity fund throws its weight behind diagnostics firm
LEEDS investment fund Solingen Private Equity has given backing to a diagnostics business.
Preston-based Burgess Diagnostics provides mobile imaging services to the veterinary sector.
Burgess was founded in 2003 to undertake MRI and CT scanning services, and has grown to a network of 65 scanning sites.
Paul Betts, investment director at Solingen Private Equity, said: “We look forward to partnering with Mike and his team to support their growth plans. This is exactly the type of business where we believe Solingen can add value by providing equity growth finance and supporting management.”
Mike Hadfield, managing director of Burgess, said: “This is an exciting time for Burgess Diagnostics as we continue to accelerate our ambitious growth plans. Previously reserved for human medicine, MRI and CT scanning procedures are safe and highly effective methods of producing clear cross sectional images of the body.
“At Burgess Diagnostics, our main objective is to make these valuable diagnostic tools accessible and affordable for veterinary surgeons and pet owners alike.
“We are confident that with Solingen’s hands-on approach and understanding of our business they are the perfect investment partner for Burgess at this stage in our development journey.”
Jill Bolton and Duncan Morpeth from Grant Thornton also worked on the deal. Other advisers involved in the deal were Paul Mann and Louisa Hine of Squire Patton Boggs, who advised the shareholders and management, Adrian Ballam and Catherine Umpleby of Schofield Sweeney and Stephen Green and Rob Atkinson of RSM.
