Glasgow-based private equity firm Maven Capital Partners’ MBO Fund II has committed up to £15 million, to support the buy and build strategy of Covestus Holdings, a fast-growing consumer healthcare group.
The initial investment will support the acquisition of two established oral care brands, Ultradex and Dentyl, from Venture Life Group Plc. The transaction supports the start of a consolidation strategy aimed at creating a scaled platform of specialist healthcare brands addressing chronic conditions and preventative health needs.
Covestus is headquartered in Cheltenham and operates in the consumer healthcare sector, focusing on brands with strong clinical credentials and clear opportunities to improve brand recognition, product distribution or to pursue new product development opportunities. Its existing portfolio includes Probio7, a leading gut health supplement brand, and Sweatguard, a clinically proven solution for hyperhidrosis.
Maven’s backing will enable the group to execute a pipeline of acquisitions and deliver the bespoke value creation plans for each asset.
Tom Purkis, Partner at Maven, said: “This investment underlines MBO Fund II’s focus on partnering with high-calibre management teams to deliver focused value creation strategies. Covestus is led by an experienced team with a proven track record of operational improvement and transformational growth. The business also operates in a resilient and growing segment of the consumer healthcare market, and the senior leadership team has set out a clear buy-and-build plan to scale through targeted acquisitions and brand development.”
