Ambition Delivered

finnCap Cavendish, part of finnCap Group plc, is pleased to announce it has advised on the sale of purpose-driven professional services firm Gemserv, to Talan, an international technology-led consulting group. The acquisition marks a significant moment in Gemserv’s journey to become the go-to advisory firm in the movement towards energy and digital transition. The deal will double the size of Talan’s UK operations and provide Gemserv with the increased scale and capabilities required to accelerate growth.

Founded in 2002 by the UK’s leading energy suppliers and electricity network companies, Gemserv was set up to manage and facilitate the opening of the electricity market to competition. More recently, management has diversified both the service offering and industry verticals to tackle today’s social and environmental challenges.

The Business provides a range of technology-led consultancy and outsourcing capabilities including programme management, market design and governance, cyber security and digital transformation. Gemserv holds social change and sustainability at the heart of its operations; it is a B Corp, is IIP Gold accredited and a Financial Times Leading Management Consultancy for 2021 and 2022. Its purpose is making things that matter work better for everyone.

Advisers to Gemserv were finnCap Cavendish (Corporate Finance) and Osborne Clarke (Legal).

Alex Goody, Gemserv’s Chief Executive Officer, commented:

“I’m delighted that Gemserv is joining the Talan group of companies.  Talan’s model is highly entrepreneurial and offers synergies and growth potential, including opening exciting international opportunities in the areas we seek to make a difference. Talan are 100% behind our strategy and we will continue to support our existing clients – like those in energy code governance – as well as further growing out across new sectors and services. Having an aligned shareholder with a consultancy growth track record allows Gemserv to bolster its capability and increase focus on combining energy and digital expertise. Importantly, being part of a bigger group of companies with similar values means we can offer greater career development and progression opportunities for our people.”

“The Cavendish team did a great job of running a competitive process to establish the best transaction options available for our stakeholders. They were instrumental in delivering the Talan deal and were a pleasure to work with.”

Andrew Jeffs, Partner at finnCap Cavendish, said:

“We thoroughly enjoyed working with the Gemserv team who were at an exciting inflexion point. Joining forces with Talan gives them even more scope to positively impact society. The deal is another example of finnCap Cavendish’s expertise within consultancy and professional services space and is the most recent of a string of deals that have ESG and social purpose at their core”.

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.”

finnCap Cavendish, part of finnCap Group plc, is pleased to announce it has advised the three Founders of MBI Healthcare Technologies (“MBI”), John Bull, Emilios Evangeli and Barry Mulholland, on the acquisition of the firm by global quality assurance and risk management provider DNV.

MBI Healthcare Technologies supplies healthcare providers with artificial intelligence-backed technology and data quality expertise to reduce patient safety risks, deliver care more efficiently and bring down waiting times for elective treatment. The company tackles the growing challenge of patient data being imprecisely recorded in electronic health record systems.

MBI Healthcare Technologies has worked with more than 80 healthcare providers in the UK to improve elective care performance over the past decade. Its LUNA software platform has been used to manage more than 40 million patient pathways, and the company has assessed more than 10 million clinical documents.

The acquisition forms part of DNV’s strategic expansion into the digital health market, where it aims to significantly grow its presence through innovation, acquisitions, and partnerships. DNV and MBI will work to rapidly scale the MBI’s solutions in the UK, target growth in international markets, and bring new data assurance technologies to the healthcare sector. MBI Healthcare Technologies’ management will continue to lead the company’s growth, supported by an international team of commercial and domain experts from DNV.

The deal was led by Karri Vuori, Partner, and executed by Harry Radburn, Associate, at finnCap Cavendish.

Remi Eriksen, Group President and CEO of DNV at DNV, commented:

“DNV’s investment in MBI Healthcare Technologies aims to accelerate data quality improvements in the healthcare sector. MBI Healthcare Technologies has developed sector-leading services and with their artificial intelligence-powered solution we will make a significant impact on the digital transformation of the healthcare system. With this investment we will further enhance DNV’s strength in providing trust and assurance to the healthcare sector.”

Karri Vuori, Partner at finnCap Cavendish, commented:

“This transaction is particularly close to my heart given the genuine impact MBI and its founders have on the quality of healthcare and ultimately human lives. It also marks the second time I’ve advised one of the founders on a notable healthcare technology exit. DNV is a fantastic partner for MBI allowing them to rapidly scale their groundbreaking technology and with a shared culture of impact.”