Pelican Healthcare, a Cardiff-based manufacturer of medical products, is moving into its next phase of growth following the sale of a majority stake to T G Eakin Ltd of Northern Ireland. Clearwater Corporate Finance advised the shareholders.
Eakin and Pelican are both successful, high quality manufacturers of specialist medical devices with UK based production plants.
With strong sales in the UK and overseas, Eakin produces high quality niche products used in stomacare and woundcare, whereas Pelican has a wider product portfolio sold primarily in the UK.
Managing director Howard Clark and financial director Nigel Jones have retained a minority stake in Pelican and will continue with the business. Commenting on the deal, Clark, said: “This is a significant development in the growth plans of both Pelican and Eakin. There is an excellent fit between the two companies.”
Tom Eakin, group chairman of Eakin added: “We intend to invest in the strengths of both Eakin and Pelican to widen and deepen our activity in all our markets. Eakin is a profitable high quality manufacturer with strong R&D skills both in product and processes, and the intention is to guide Pelican through its next phase of development.”
Andy Moore and Gareth Iley of Clearwater Corporate Finance advised the shareholders of Pelican. Moore, partner and head of Clearwater’s healthcare team, said: “Eakin has chosen to invest in Pelican because of its consistent track record as a reliable, high quality supplier. The combination of Pelican and Eakin creates a substantial player in the medical products market.”
Alan Whiteley and Ciara Conlon of M&A Solicitors in Cardiff provided legal advice to the vendors.