Pasante Healthcare’s disposable and reusable glove division has been sold to Hailsham-based Wightman & Parrish in a deal arranged with the help of EMC Corporate Finance.
Established just five years ago, the Pasante glove division has been a flourishing and integral part of the company’s portfolio of healthcare products. However, the Pasante Group’s healthcare strategy for the future is focusing more and more on its other core strengths and products such as those in the sexual health sector.
As a result, the directors believed that the glove business would be better able to reach its full potential as part of a broader healthcare and hygiene operation where gloves received the attention and focus they deserved. The glove operations are now being integrated with W&P’s own disposable and reusable glove lines.
EMC was originally mandated by Lancing-based Pasante to indentify suitable buyers, and Terry Rainback subsequently worked closely with the company’s directors to assist with the negotiation and closing of the transaction.
Dominic Boon, Finance Director at Pasante said: “We have now worked with EMC on three such deals and it is probably true to say that we can’t envisage how we would find our way through the web that always exists without their help.”
EMC’s Terry Rainback (left) with Dominic Boon of PasanteBack to all news