MIP Acquires UK Healthcare Supplier
MIP Inc., Montreal, recently announced that its United Kingdom (UK) subsidiary MIP UK Ltd. has acquired Cromptons Healthcare Ltd., a leading supplier of reusable and single-use healthcare products in Great Britain, according to a news release.
“This is an exciting time for our employees, customers and other stakeholders,” said Tor Lund, MIP president and CEO. “Over the past several years our UK business has experienced strong growth in revenue and market share. Our acquisition of Cromptons accelerates the execution of our long-term strategy in the UK. Cromptons is a well-recognized supplier in our market with a proud history of supplying quality products and providing outstanding service to its customers. We are very pleased to welcome Cromptons’ team into the MIP family.”
With a history dating back to 1926, Cromptons is a leading supplier of healthcare goods, including patient positioning devices and garments to healthcare facilities and outsourced laundry service providers across England, Scotland, Wales and Northern Ireland, the release said.
Cromptons’ Managing Director Martin Calhoun said he’s happy with the company’s move to join MIP. “I’m very pleased to see the business that my team and I have developed over the last 25 years now being acquired by MIP,” he said. “I’m confident that this combination will fortify our leading market position in the UK and create exciting growth opportunities.”
Jeff Wigle, managing director of Banyan Capital Partners, a private equity firm based in Canada, added that his firm will work to help make the combination of these two companies successful. “We perceive a significant opportunity for MIP to build on its already strong position in the UK healthcare market,” he said. “We look forward to supporting the MIP and Cromptons’ management teams on their integration of these two successful and complementary businesses.” Click here for details.