Inflexion, a European mid-market private equity firm, has entered an agreement to sell Denmark-based European LifeCare Group (ELCG), the largest provider of vaccinations in Europe, to Valena, part of the investment fund managed and controlled by Findos, for an undisclosed sum. Findos, a Germany-based private equity group investing in medium-sized companies, will have sole control of ELCG.
European LifeCare Group operates 84 specialist vaccination clinics across Denmark, UK, Netherlands and Sweden providing a range of vaccination services including travel vaccinations, general health vaccinations as well as mass immunisation programmes. For over 20 years, ELCG has been a preferred partner for the delivery of public vaccination programmes for the Danish and UK NHS. In recent years, the company has expanded its services to include supporting vaccine clinical trials for leading pharmaceutical companies, partnering with industry leaders such as Sanofi and Pfizer.
“Inflexion has supported the growth of European LifeCare Group and in particular have provided invaluable insights as we have grown the business through acquisition and entered new geographic markets across Europe,” said Tanja Sølvkjær, chief executive, ELCG. “We look forward to further growth ahead of us.”
Inflexion invested in the business in 2018. Since when, ELCG has transformed from a travel vaccination provider into a leading preventative healthcare platform across Northern Europe.
“During our partnership, European LifeCare Group has successfully expanded its geographic footprint across Europe whilst also increasing the range of services that it provides,” said Malcolm Coffin, partner and head of Inflexion’s Enterprise Fund.
Under Inflexion’s ownership, ELCG completed four acquisitions and successfully expanded into the Benelux and Swedish markets, nearly tripling its revenue over the period. The number of clinics increased by 65%, the total number of employees grew sixfold, and the total number of vaccinations delivered rose fourteenfold to over 3 million annually.
“With Inflexion’s support, European LifeCare Group has developed into a truly pan European market leader, and has great prospects for future growth,” said Robin Senivassen, managing director, Inflexion.
Press release: Inflexion to sell European LifeCare Group | Inflexion | Backing ambition: European mid-market private equity