27 November 2008
In addition to being nominated Mid-Market House of the Year, LGV received two out of three of the nominations for Healthcare Exit of the Year at the Unquote UK Awards on 27 November 2008.
LGV was delighted to receive the Healthcare Exit of the Year award for its management and successful sale of Integrated Dental Holdings Limited (“IDH”) – the UK’s largest privately owned company operating NHS dental practices. After successfully implementing the strategy of expanding IDH’s network of practices from 127 practices to more than 200 through a combination of new openings and acquisitions, IDH was sold in February 2008 to Merrill Lynch Global Private Equity.
The sale formed part of a successful week in February 2008 for LGV with 3 exits taking place; IDH, Classic Hospitals and Verna Group all operating within the healthcare market. Together these 3 exits represented a combined enterprise value in excess of £500m, generating a return close to 3 times cost and an IRR of 58%.
