Clearwater International has advised Jourdan plc’s shareholders on the disposal of its 100% shareholding in Westfield Medical Limited.
Clearwater advised Jourdan on the sale of its shareholding in Westfield Medical Limited and the freehold factory, occupied by Westfield Medical, to Westfield Medical Group Limited. The MBO was led by Managing Director Patrick Sparkes with backing from Maven Capital Partners. The MBO gives Westfield the opportunity to increase production and significantly expand its international market.
The sale will allow Jourdan to concentrate on its remaining operating subsidiary Clinipak, a supplier of consumables and capital equipment to operating theatres in England and an increasing number of overseas distributors.
The Clearwater International team, led by partner Phil Burns, with support from directors Karen Edwards and Ramesh Jassal, senior associate Stephen Nemeth and associate Alex Brindley, advised Jourdan’s shareholders.
“I’m very grateful for the assistance and expertise from the Clearwater team. I received a personal service and built up a good relationship. Clearwater’s credible knowledge and experience ensured we understood what was happening every step of the way and enabled us to achieve a great result. I wouldn’t hesitate to work with them again and would definitely recommend their services.”
David Abell, Chairman at Jourdan plc
“We are excited to be backing this ambitious management team. Westfield is a successful, long-established business with a market-leading reputation for high-quality products and excellent customer service, operating in a market that offers significant growth opportunities both in the UK and overseas. The business is well placed to drive further growth following significant investment in recent years, and we look forward to working closely with Patrick Sparkes and the senior team to achieve their growth plan.”
Andrew Ferguson, Partner at Maven Capital
“We’re pleased to be working with the Maven team, whose experience in supporting the growth of businesses like ours will make Maven the ideal funding partner for accelerating our growth plans. This funding provides the resource to achieve the next phase in our development, and we would recommend Maven to any management team considering a future buy-out.”
Patrick Sparkes, Managing Director at Westfield Medical
“There is a great opportunity for both businesses to move forward internationally following this MBO. We wish both teams the best of luck.”
Phil Burns, Managing Partner at Clearwater International