Pemberton, the asset manager backed by one of Europe’s largest insurers, Legal & General Group PLC, has provided an incremental term loan to support Vernacare’s, a H.I.G. Capital portfolio company, acquisition of Frontier Medical’s Infection Prevention business unit.
Operating from Blackwood, Wales, Frontier Medical’s Infection Prevention business is an industry leader in the infection prevention market, providing an extensive range of sharps and clinical waste disposal solutions to a customer base across the UK and Europe. The company’s Sharpsafe® product was the world’s first purpose-designed plastic sharps container.
Pemberton has supported Vernacare since 2019, most recently providing incremental capital when H.I.G. Capital acquired Vernacare earlier this year. Since Pemberton’s initial investment, Vernacare has experienced significant growth across UK and international markets, including Canada, Australia and the Netherlands.
This transaction is an excellent example of our ability to provide tailored funding to a company with strong growth potential, allowing it to seize opportunities to expand its global footprint during a crucial time.
Supporting our portfolio companies with incremental capital for growth and strategic acquisitions is a key pillar of Pemberton’s investment philosophy. This transaction adds scale and breadth of Vernacare’s product range and is an important milestone in its growth strategy.
– Cassandra Fahy, Managing Director, Origination at Pemberton
