Kester Capital, a primary buyout specialist, has successfully refinanced three of its portfolio companies following strong revenue and profit growth over the last 18 months.
Kester’s sector focus and track record has resulted in strong lender appetite for three of its portfolio companies: Avania, YouGarden and Frontier Medical.
The deals come following a busy start to the year for Kester which recently announced its investment in drug discovery business, Optibrium, as well as the expansion of its investment team with a run of new hires.
Avania is a leading, global full-service contract research organisation focused on the management of clinical studies for medical devices, IVDs, biologics, and device-drug combination products internationally. Headquartered in the Netherlands, Kester Capital acquired the business in 2016 and has driven an increasingly global presence through organic and acquisitive growth. Since Kester’s initial investment the business has more than quadrupled its revenue. The deal sees Avania refinance its existing banking facilities with Crescent Capital which will enable Kester to position Avania well for its next phase oforganic and acquisitive growth.
Read more/Source: Private Equity Wire
