Mills & Reeve has advised on the new investment, which was previously backed by Mobeus Equity Partners.
The senior management team, led by chief executive Dr Mike Macnamee, will all remain in their current positions and work with the new board.
This continuity of leadership will ensure that Bourn Hall carries on providing the same high levels of service and treatment – for both self-funding and NHS funded patients from its clinics in Cambridgeshire, Essex and Norfolk.
Triangle and the Bourn Hall team share a vision of the future and their investment will facilitate the continued development of Bourn Hall’s outstanding reputation for quality of service both in the UK and internationally.
Bourn Hall was founded more than 40 years ago by IVF pioneers Steptoe and Edwards in Bourn, near Cambridge, following the birth in 1978 of the world’s first ‘test tube’ baby Louise Brown.
Its expansion in recent years has included the opening of a new, purpose-built, full-service clinic in Wickford in Essex. Bourn Hall remains the largest provider of NHS-funded IVF treatment in the east of England.
Dr Mike Macnamee, chief executive of Bourn Hall, said: “We are proud to have pioneered new technology and treatments and established a network of new clinics and satellites that provide patients with personalised treatment programmes and excellent success rates, close to where they live. Triangle’s investment will support our continued success and provide opportunities for growth and further development. The directors and I are all looking forward to working with the new board.”
Ed Wass, who sat on the board for Mobeus and led the exit, commented: “As the birthplace of IVF, Bourn Hall has the ideal heritage and reputation to grow as a respected, global brand, supporting countless more people on their journeys to become families. I am very pleased Bourn has found a new partner for the future of the business.”
Tom Pickthorn, corporate partner at Mills & Reeve concluded: “Mills & Reeve has worked alongside Mike and his team since he led the management buy-out of Bourn Hall in 2005. We are proud to have helped this internationally recognised organisation prosper and to help countless numbers of parents for over 15 years. We look forward to it starting an exciting new chapter in its story with Triangle.”.
Peter Jennings, Corporate Finance Partner and Healthcare Sector lead at Grant Thornton, commented: “This is a great result for both parties and I look forward to seeing the next phase of Bourn Hall’s journey.”
Bourn Hall’s shareholders were advised by Grant Thornton (corporate finance), Mills & Reeve (legal), PEM (tax) and Birketts (legal).