Management AdvisoryCompany SalesCompany Acquisitions

Momentum advises the shareholders of Kinneir Dufort on their sale to SteriPack

Deal Overview

  • Advised Mobeus and Management
  • Long-term approach
  • Private equity-backed acquirer

SteriPack Group (“SteriPack”), a leading global contract manufacturer serving the medical device, pharmaceutical, and diagnostic markets, has acquired Kinneir Dufort (KD), a Bristol UK based, user-centered design and product development firm. SteriPack is backed by Inflexion, a leading London-based private equity house.

 

The addition of KD geographically expands SteriPack’s design, development, human factors research & engineering capabilities creating a European R&D Centre of Excellence.

 

Globally, SteriPack now has over 150 specialist staff dedicated to medical device and life science product design and development, providing an integrated and holistic service from product origination through to volume manufacturing.

 

The deal marks the end of a successful investment for Mobeus, generating a 2.8x money multiple and 28% IRR following their investment in KD in 2016.

 

For more information, see: https://tinyurl.com/3rpm4h9t

By joining the SteriPack Group, we are able to accelerate KD’s journey; creating new opportunities for both our team and our business by increasing our expertise and, through our work, making a difference to an expanded client base. We’re delighted to be joining forces with a business that shares our culture, values and purpose.

In 2016 Momentum become our trusted advisors and were instrumental in the success of our MBO. It has been incredibly reassuring and highly enjoyable to work with them again throughout this latest process. I cannot recommend them highly enough.

Merle Hall, CEO of Kinneir Dufort

I feel immensely privileged to have had the opportunity to sit alongside Merle, Craig and Mike on the board of KD. The exit they have achieved today is testament to their relentless pursuit of value – in all its forms – for all KD stakeholders over the investment term. We look forward to seeing the business and its employees continue to develop and prosper in the future.

We would like to thank Momentum for all their work in delivering an excellent outcome for Mobeus. They fought hard to maximise value throughout the process and having Rob and Matt on our side was a key factor in this successful exit.

Richard Babington, Partner at Mobeus Equity Partners

It has been great to work with Merle, Craig, and the KD team again. Having advised the management team during the buyout backed by Mobeus in 2016, we are delighted to have been able to help the shareholders find the right partner for the business and deliver a deal which meets the objectives of all shareholders.

This deal is a fantastic example of Momentum’s approach of providing best long-term advice to clients and reflects our ability to add value throughout the private equity lifecycle, from structuring the original transaction to identifying strategic purchasers and maximizing shareholder value at exit.

Rob Crews, Partner at Momentum Corporate Finance