Healthpoint benefits from funding package to drive growth through new product development and further penetrate grocery multiples, value retailers and export markets.
Maven has completed the £6.5 million management buy-out of Healthpoint Limited. Founded in 1996, the business sources and supplies healthcare and beauty products into the retail sector, and has grown to become one of the largest suppliers of tertiary branded healthcare products in the UK.
The investment, supported by Maven's Investor Partners co-investment network, will enable Healthpoint to fund further new product development, with around 30 new product lines in the pipeline for launch in the next year, and help drive organic growth from its long-established relationships. The company is also focused on a buy-and-build strategy with follow-on funding available from Maven to grow by acquisition.
Blackpool based Healthpoint has carved a successful niche within the rapidly expanding ‘value’ segment of the personal care and beauty market. Its portfolio of branded products, which include ‘Derma V10’ and ‘Clear & Simple’, offers an affordable, high quality alternative to premium branded products. Healthpoint’s products also include a range of over the counter (OTC) medicines bearing the Healthpoint brand, with the OTC range set to expand significantly following the investment.
In 2014 the business was sold to the current management team, led by Managing Director Amanda Parkinson, who implemented a focused commercial strategy leading to a number of industry awards and growth within the customer base. Healthpoint now supplies over 300 product lines to UK retailers, wholesalers, healthcare and pharmacy chains, as well as the export market.
Amanda Parkinson, Managing Director at Healthpoint, said: “We are passionate about delivering high quality products and excellent customer service to our growing customer base, and are delighted that Maven shares our vision for the business. We have plans to drive the value of our brands, increase the number of products across the whole product range, capture market share and also target overseas sales growth. ”
Ryan Bevington, Investment Director at Maven, added: “We are delighted to have invested in Healthpoint, and look forward to working with Amanda Parkinson and her team to help the business deliver its ambitious growth plans. Healthpoint is a leading player in the fast growing value segment of the healthcare and beauty market, where its range of branded products offers an affordable, high quality alternative to premium branded products.
The business is well placed to expand organically, with plans to launch a number of new products over the coming year and build on exciting export opportunities, as well as pursuing a focused buy-and-build strategy in the sector.“