DBG TAGS NEW MARKETS
Synova Capital (“Synova”), the UK lower middle market investor, today announces the acquisition of TAG Medical (“TAG” or the “Company”) by portfolio company dbg for an undisclosed amount.
Based in Nottingham, the Company provides on-site testing and calibration services for key medical equipment at over 3000 site locations, focussing on the GP, hospital and pharmacy markets. The Company has over 2500 customers, the majority of which are on three year rolling contracts.
The acquisition of TAG was supported by additional facilities provided by The Co-operative Bank.
Commenting on the transaction, David Menton, a Managing Partner at Synova and Director of dbg, said: “We are delighted to have completed the acquisition of TAG which is an excellent fit with dbg’s business. This transaction will add the GP, hospital and pharmacy markets to dbg’s already established presence in the dental market where it counts over 70% of practices as customers”.
John Rochford, Chief Executive of dbg, said: “The acquisition of TAG is a strong strategic fit with the wider dbg offering and will allow us to cross-sell our fast growing compliance, training and health and safety services to TAG’s customer base. We look forward to working with the highly regarded team at TAG”.