Skipton-based healthcare firm Trio acquired by Impel

Trio has been acquired
Trio has been acquired
0
Have your say

Investment company Impel Healthcare Catalysts (Impel) has today announced its first deal by acquiring a majority stake in ostomy company Trio Healthcare (Trio).

This is the first major deal for Knutsford-based Impel, which was launched earlier this month by entrepreneurs Richard Anderson and Spencer Kerry – previously part of the management team behind Crawford Healthcare.

Founded by Lloyd Pearce in 2006, Trio has bases in Buckinghamshire and Skipton where it manufactures a range of novel ostomy products, which have consistently delivered year-on-year growth for the company. Trio has won two Queens Awards for Enterprise to-date, recognising its technology and innovation.

The investment comes at a pivotal time as Trio moves to finalise development and commercialise a truly disruptive first-in-class product for key European and US ostomy markets.

The deal will see Richard Anderson and Spencer Kerry join CEO Lloyd Pearce on the Trio board.

Mr Anderson, co-founder of Impel, said: “Impel has a commitment to backing tech-enabled healthcare businesses with good potential that lack funding and expertise, so we are delighted to have secured our first investment in Trio, a company primed for its next stage of growth.

“As a massively untapped sector, the ostomy market is estimated to reach $4bn globally by 2021. With its new ground-breaking technology in development, this is a real opportunity for an innovative company like Trio to disrupt a multi-billion-dollar market, so we’re excited to launch that in early 2020.”

Lloyd Pearce, founder and CEO of Trio, added: “Impel’s extensive strategic experience and healthcare knowledge, coupled with the management team’s impressive track record to deliver rapid growth, is a great fit for Trio. We have a loyal customer base which has got the company to where it is today, however with the support from Impel we feel confident to be able to take the business to the next level.”

Trio is the first deal in a strong pipeline of transactions for Impel. Through an extensive network of contacts, the firm’s portfolio will receive a full spectrum of agile business support, covering finance, research and development and marketing to drive growth. Impel is typically looking to invest in companies with enterprise values up to £50m, and will have the capability to co-invest with other funders.