Insights
Benchmark International Successfully Facilitated the Transaction Between Clearview Endoscopy Limited and Foresight Group LLP
November 23, 2023
Benchmark International is pleased to announce the acquisition of Essex-based Clearview by London-based Foresight, a transaction announced as Insider Media’s Deal of the Month in November.
Clearview services, repairs and maintains flexible endoscopes used for medical diagnostics in healthcare settings across the UK and Ireland. It works with NHS trusts and private clinics to proactively limit endoscopy down times through fast and reliable repairs, combined with a broad endoscope temporary lending offering.
Foresight was founded in 1984 and is a leading listed infrastructure and private equity investment manager. It has announced a £6m investment into Clearview, alongside £1.5m from Clydesdale Bank.
The investment will enable founder, Dave Cameron, to step away from the company in a staged way and for a new management team to participate in the equity growth story.
The buyout is being led by Darren Likely, ex-CEO of Agar Scientific Limited – an investment Foresight successfully realised in 2022. Darren has a strong sales-led background in servicing medical devices. Christopher Langley, an experienced Chair with a successful track record of delivering growth through bolt-on acquisitions, will also join the board.
Mr Cameron said: “I have thoroughly enjoyed working with the Clearview team to create a market-leading service to clinics across the country. To take Clearview to its next phase of growth, Foresight will be a great partner to help guide the team. I am looking forward to supporting Foresight and the Clearview team, helping to make sure that our customers continue to receive a great service.”
Chris Wardle, managing director at Foresight, added: “Clearview is a leader in its market with an excellent reputation amongst its customers for high quality service. Dave and the team have built a great business with lots of opportunity to expand its services. It’s great to be working with Darren again; his leadership style combined with sector knowledge make him a perfect addition to the Clearview team.”
The acquisition represents the third deal by Foresight conducted via Benchmark International. Other deals have included the acquisitions of RGM Vent and Protean.
Clearview was advised by Benchmark International (corporate finance) and Gunnercooke (legal advice).
Foresight was advised by Dow Schofield Watts (financial DD), Birketts (legal), Catalysis Advisory (management DD), Vista (insurance DD) KryptoKloud (cyber DD) and PMSI Strategy (commercial DD).
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