KWM London are delighted to advise Quadrivio Group on the second transaction of their private equity fund, Silver Economy Fund. As part of the transaction, Silver Economy Fund acquired 100% of The Private Clinic Group (TPC), a London-based group of seven clinics and one hospital, from Bluegem Secondary LP.
Silver Economy Fund is a themed PE fund that invests in companies offering products and services to the 50+ age group, with a focus on supplying these businesses with the necessary capital to speed up growth and development. Silver Economy Fund’s investment into TPC will further boost the company’s development and strengthen their position in the medical cosmetics market.
The KWM team was led by London Corporate Partner Barri Mendelsohn, Corporate Senior Associate Jenny Willcock and Corporate Associates Jonathan Forrest and Roshni Gotecha with support from Employment Partner David Wilman, Legal Director Kathryn Griffin, Senior Associate Nick Impey, Associate Daniel Jones and others.
TPC was established 40 years ago and provides advanced medical cosmetic treatments, with its flagship and most well-known clinic in Harley Street, London. Additionally, TPC have clinics across the UK in Birmingham, Manchester, Buckinghamshire, Leeds, Northampton and Bournemouth. After significant growth in the past few years, TPC’s turnover, including the add-ons, to 31 March 2023 was more than £30 million.
Barri Mendelsohn, Partner, KWM London said: “We’re thrilled to have advised Quadrivio Group on this buy-out of TPC and it’s first investment in the United Kingdom. Silver Economy Fund have an exciting investment strategy and we look forward to further supporting them to invest in and develop products and services to meet the needs of an ageing population worldwide.”
Alessandro Binello, Group CEO of Quadrivio Group said: "This investment in TPC responds to a market demand ‒ pivoting on cosmetic and dermatological treatments and surgeries ‒ that is experiencing significant expansion in the Western world, particularly among the over 50s. Furthermore, we believe the TPC model could be duplicated in Italy and Europe, where the degree of fragmentation in these services is still extremely high."
Stefano Malagoli, Partner at Silver Economy Fund said: "We're very pleased to be able to contribute to the development of a group of clinics operating in a growing sector such as cosmetic treatments. We will work in unison with the management, which has consistently shown its ability to pair growth with impeccable ethics in medical services, where quality will always be central in our attention. Many thanks to the entire KWM team, particularly Barri and Jenny, who guided us expertly every step of the way"
About King and Wood Mallesons
King & Wood Mallesons is an international law firm headquartered in Asia. As the first firm in the world able to practice English, PRC, Hong Kong SAR, Japanese, Australian, US, German, Spanish, Italian, Belgian and EU laws, our presence and resources in the world’s most dynamic economies are profound.
Around the world, the firm has over 2,400 lawyers with an extensive global network of 31 international offices including five in Europe, in each of London, Frankfurt, Madrid, Milan and Brussels. Across Europe, KWM lawyers have specialist expertise in advising private equity, corporate investors and financial institutions on complex cross border transactions. Our experience in both local and global markets means we can enable clients to thrive in internationally. Our transactional lawyers are known for driving transactions quickly and effectively, and for paying close attention to the commercial objectives of our clients.
