Inflexion Private Equity has sold CHKS Ltd., the UK division of Healthcare Knowledge International (HKI), from Capita Group PLC. No financial terms were disclosed. Inflexion originally acquired HKI, a European provider of benchmarking performance and analysis, in April 2004.
Inflexion Private Equity, the mid-market private equity investor, is pleased to announce today that it has sold CHKS Limited, the UK division of Healthcare Knowledge International (HKI), to Capita Group Plc (Capita).
HKI, the leading European benchmarking performance and analysis information provider, was originally acquired by Inflexion in April 2004 and consisted of CHKS Ltd, its UK division, and IASIST in Spain. From the sale of the UK division, Inflexion has received proceeds sufficient to provide its investors over one and a half times return on their investment. Further substantial gains are expected when the Iberian division of the business is sold.
The sale of CHKS also means that Inflexion has repaid all of the capital drawn on its 2003 Fund. In addition to retaining the Iberian division of HKI, Inflexion has significant value in the four remaining investments in its 2003 fund, including most notably Viking Moorings, its market leading oil services supplier.
John Hartz, Managing Partner at Inflexion commented; “We are proud that throughout the period of our ownership CHKS has not only grown, but has almost doubled the number of employees organically. It is now in a position to move forward into its next stage of development and we wish the team every success in the future.”
Paul Pindar, Chief Executive of Capita commented; “This acquisition will add important new expertise to Capita’s range of health services and effectively complements the work we are doing for NHS Choices, in developing the way the NHS connects with the public. The deal also further demonstrates Capita’s commitment to, and investment in, the health sector”.