Having previously advised the TruCorp management team on the investment into the TruCorp business by Cordovan Capital Partners (Cordovan) in October 2016, the Mills Selig team are pleased to have also advised the management team on their acquisition of TruCorp Holdings Limited and its subsidiary (TruCorp) from Cordovan.
Based in County Armagh, TruCorp leads the medical simulation market in providing realistic and durable training manikins - designing, engineering and producing a wide range of anatomically correct airway management, emergency skill and surgical skill trainers. In addition to TruCorp’s medical training manikins, they offer a growing line of ultrasound capable training products and medical simulation apps for healthcare professionals.
Mike Irvine, Director of Cordovan has confirmed the sale of TruCorp commenting:
“TruCorp is a fantastic company and has been a great investment for us, we are exiting at a return of 10.4x capital invested. We’ve loved working with Mike, Ryan and the TruCorp team and wish them every success in the future.”
Chris Guy, Director and Head of Corporate at Mills Selig said:
“The TruCorp management team have worked incredibly hard to build a market leading business. We are delighted to have assisted them on this transaction and are excited for what the future holds for the team and the TruCorp brand.”
Michael Calo, TruCorp Director, added:
“Both Ryan and I are delighted with the outcome and thankful that Cordovan believed in our vision and allowed us to create the “new TruCorp” as we wanted. We couldn’t be happier that our 4 year partnership has worked out extremely well for us all. The encouragement and feedback at board level from both Mike Irvine and chairperson Stephen McClelland was instrumental in our business development and has set us up for the next stage of growth. The future is very bright for Trucorp! We wish all the best to the team at Cordovan and a huge thanks to both Mike and Stephen! Cordovan got the deal done that changed quite a few lives for the better and I’m sure many other management teams will have similar success stories in their future.
A big thanks go to Chris, Darren and the Mills Selig team, their deep understanding of the business and how Ryan and I work ensured this deal happened efficiently and expediently, facilitating an outcome that all parties were delighted with.”
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For further information on TruCorp, click: https://www.trucorp.com/