Sussex-based Pasante Healthcare, founded by local entrepreneurs Lawrence, Dominic and Paul Boon in 2000, has been sold to Malaysian firm Karex Bhd, the world’s fastest-expanding condom and sexual health manufacturer, in a £6m deal.
Pasante, a long-standing client of Hove-based EMC Corporate Finance who acted for the company in the sale, has been one of the UK’s leading sexual health companies for many years and has grown steadily year on year, bucking the trend and pressures through the downturn in the UK.
It has grown with the help of a dedicated team at its Lancing base. Building on its success in the UK, the Pasante brand is now exported to over 60 countries across Europe and the Middle East, with plans in place to extend this further in the near future.
Recognising this potential, Karex Bhd identified Pasante to spearhead its expansion into Europe.
EMC’s Terry Rainback acted as corporate adviser to Pasante throughout the deal process which was completed on 1st July 2016.
He said: “it is a real pleasure to see the strength of Sussex businesses recognised on an international scale and the hard work by the Boons and their strong team has made this possible. The Pasante and Karex professional teams were able to meet both companies’ objectives in achieving a smooth passage throughout this cross-border deal and it was concluded in record time.”
Dominic Boon, Pasante’s FD who was instrumental in managing the very detailed due diligence procedures, said: “Having been through business sales before, we knew a lot of what to expect and we were ready. Making sure you have the right people around to help you is important, and between Terry from EMC, David Gordon from MWB and Barry Carden from Carden’s, we were in good hands and it went well.”
Dominic added: “Karex is in the perfect position to work with the team at Pasante to build on its strong base and reputation in the European sexual health market and take it from strength to strength.”
Karex are a key worldwide player in sexual health and have a production capability of 5 billion condoms a year. One in five condoms produced in the world is manufactured in a Karex Factory.Back to all news