Evelyn Partners Bristol team advises on sale of Somerset-based Xiel Ltd. to MIS Healthcare
Leading distributor in medical imaging, MIS Healthcare acquires Xiel in effort to advance healthcare technology in UK and Ireland
Evelyn Partners in Bristol has acted as lead advisor to the shareholders of Xiel, a specialist in nuclear medicine, radiotherapy and diagnostic radiology, on the sale of the business to MIS Healthcare.
This strategic acquisition is a milestone for H2 Equity Partners portfolio company MIS Healthcare and expands its offering in oncology and nuclear medicine as well as adding scale to its radiotherapy offering.
Xiel, based in Shepton Mallet, works with globally leading solution providers, providing tailored solutions to meet the unique needs of healthcare providers.
With Xiel’s partnerships and specialised products, MIS Healthcare will strengthen its portfolio, ensuring a broader range of innovative solutions for customers across the UK and Ireland.
MIS group now generates over £50million revenue and supports its strategy of becoming a leading diagnostic imaging service and equipment solutions provider with specialist oncology and radiotherapy capabilities.
Paul Stagg, Alex Sowerby and Alfred Wigmore of the Evelyn Partners corporate finance team in Bristol advised the shareholders of Xiel on the transaction.
Jack Knight, managing director of Xiel, said: “We are delighted to join forces with MIS Healthcare, an organisation that shares our commitment to delivering exceptional customer service and advancing cutting-edge technology within the healthcare sector.
“This merger brings an exciting opportunity to combine our extensive healthcare expertise and leverage the many synergies between our companies. Together, we will set new benchmarks in exceeding the expectations of our customers and suppliers. We look forward to this next chapter in Xiel’s journey and to achieving many future successes with MIS Healthcare.
“Thankyou to the whole Evelyn Partners team for all its support over the past few months. We really could not have done this without all your help and advice. Paul and his team fully understood our business and we thoroughly enjoyed working with them on a personal level. We would not hesitate in recommending Evelyn to business owners in the South West.”
Paul Stagg, director at Evelyn Partners, added: “We wish the whole Xiel team all the best in the future. It was a pleasure to support the shareholders on the sale of their business being the latest owner-managers we have supported in achieving their strategic objectives.”
Legal advice to Xiel was provided by Capital Law.
