LGV, the private equity arm of Legal & General Ventures, has carried out its second exit of the day with the sale of Verna Group, a manufacturer and distributor of infection control products.
The sale follows the realisation of Classic Hospitals, the UK’s sixth largest private acute hospital operator, to Cinven-owned Spire Healthcare.
Bank of Scotland Integrated Finance acquired Verna Group for an undisclosed sum. LGV backed a £60m management buyout of Verna in May 2005, led by chief executive Karen Haslam.
Under LGV’s ownership, Verna has sold a series of non-core businesses, focused on the expansion of its core infection control product base and opened a new office in South Africa.
Based in Bolton, Verna Group’s products are used in 85% of UK hospital and are exported to 46 countries worldwide.