Periproducts Limited / Venture Life Group Plc
Cavendish Corporate Finance, the UK’s leading sell-side mid-market M&A firm, has advised on the sale of Periproducts Limited, the oral care products specialist behind the UltraDEX brand to Venture Life Group Plc, the AIM-listed international consumer healthcare group addressing the self-care needs of the ageing population.
Established in 1993, Periproducts develops and distributes the UltraDEX Mouthwash and Toothpaste brands. UltraDEX sets itself apart as an award-winning premium oral care brand by virtue of its emphasis on research and strong ties to networks of dental professionals. In the UK, UltraDEX has achieved significant success and enjoys strong relationships with major retailers such as Boots, Tesco, Sainsbury, Superdrug and Waitrose.
The acquisition of Periproducts and integration of its premium range in the medicated mouthwash and toothpaste category will allow Venture Life to achieve its growth ambitions in the oral care market, both in the UK and internationally. Over the last 15 years, the UltraDEX brand has established a strong position in the UK pharmacy channel and will complement Venture Life’s existing oral care portfolio, while benefitting from Venture Life’s network of over 80 distribution partners. In particular, Venture Life’s track record in building a presence in over 40 countries with leading pharmaceutical and healthcare distribution partners will support the international expansion of UltraDEX into new, high-growth markets.
The UK oral care market is undergoing significant change despite its maturity. The sector benefits from a number of attractive growth drivers, including shifts in demography with people living longer, government organisations actively promoting self-care due to increasing constraints on public sector healthcare budgets, and lifestyle factors This shifting consumer behaviour coincides with stable growth and the market is forecast to grow to reach £1.2bn by 2019 (Euromonitor). Consumers are increasingly aware of the value of good dental hygiene and gravitate towards premium, science-based brands such as UltraDEX.
Cavendish Corporate Finance, which advised the shareholders of Periproducts on the sale, has a wealth of experience in the healthcare sector. Recent high profile transactions include advising on the sale of off-patent pharmaceuticals provider DB Ashbourne Ltd to Ethypharm, the sale of Polar Speed, which specialises in temperature-controlled deliveries to hospitals, to UPS, the sale of C.D.C. Complete tandzorg to G Square and the acquisition of Barbican Dental Care by BUPA.
Joe Stelzer, managing partner and head of healthcare at Cavendish, which advised Periproducts on the transaction, said:
‘We are delighted to have assisted the shareholders of Periproducts in finding an ideal organisation and management team to drive the expansion of the UltraDEX product range.
Periproducts is a first class operator in the market, recognised in the industry as an innovative and above-all research-led developer of premium products. With ambitious growth plans ahead, the deal with Venture Life stands to accelerate the company’s expansion both domestically and abroad.
Following on from the recently announced sale of DB Ashbourne to Ethypharm, the deal marks another strong transaction for Cavendish’s Healthcare team. In particular, our team has established a strong track record in the oral care market with the recent investment of G Square in dental care provider C.D.C. Complete tandzorg and the acquisition of specialist corporate dental business Barbican Dental Care by BUPA.’
I am very pleased to have found such a complementary match in Venture Life, a highly successful consumer healthcare group with a reputation for accelerating the growth of the brands it acquires.
The resources and expertise of Venture Life will see Periproducts on a trajectory of rapid growth under the guidance of a proven management team, through enhanced marketing opportunities, new product development and, crucially, access to a substantial number of export markets.The Cavendish team were of great assistance throughout the sale process and in particular finding us the most fitting acquirer, helped by their strong networks in healthcare and their understanding of the oral care market.
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