finnCap Cavendish, part of finnCap Group plc, is pleased to announce it has advised on the sale of Therapy Equipment Limited to ESAB Corporation. Founded in 1983, Therapy Equipment Ltd. is a regional leader in the United Kingdom in the medical gas control market for suction and oxygen equipment. The business holds strong market leadership across the United Kingdom and the portfolio includes trusted suction equipment, flowmeters, and medical regulators used in healthcare facilities across the region and internationally.
Therapy Equipment is headquartered in England and employs approximately 30 associates. Together with GCE, GasArc, Ohio Medical, and Victor, the acquisition of Therapy Equipment Ltd. further positions ESAB Corporation as a leading global gas control company with supplier-of-choice brands across the world for the industrial, medical, and specialty gas industries.
Therapy Equipment was majority owned by Owner Venture Managers, who bought the business from the founding Munn family in 2019, and subsequently expanded its domestic and international footprint for the trusted product range.
Advisers to OVM and Therapy Equipment were finnCap Cavendish (corporate finance) and Flint Bishop (legal).
Piyush Sheth, Vice President and General Manager, Gas Control, commented:
“Our acquisition of Therapy Equipment showcases our continued investment in our leading global gas control portfolio. We are excited to combine our global expertise and capitalise on innovation for our global customers across the medical, industrial and specialty gas control industries from our portfolio.”
James Wooster, Director of Owner Venture Managers, commented:
“We are delighted that Therapy Equipment will now go forward under the ESAB Corporation umbrella, who will provide further reach and innovation. The finnCap Cavendish team, led by Michael Jewell, did a fantastic job, running a truly competitive international process and managing the transaction through the diligence process with great skill. They were instrumental in delivering this deal and the strong outcome.”
Michael Jewell, Partner at finnCap Cavendish, commented:
“We are very proud to have advised on this deal, further cementing finnCap Cavendish’s expertise in the fast-growing healthcare market. This transaction is particularly important given the genuine impact Therapy Equipment Limited’s products have on the provision of healthcare in the United Kingdom and beyond.”