IK Investment Partners Fund IX managed by IK Partners agreed to acquire Medica Group Plc (LSE:MGP) for approximately £269 million on April 24, 2023. The Acquisition will be funded from IK Partners' EUR 2.85 billion Mid Cap fund, closed in 2020. This vehicle is well-positioned to support Medica, with capacity to meet follow-on capital needs for accretive M&A. The cash consideration payable by Bidco pursuant to the Acquisition will be funded through a combination of equity investment into Bidco from the IK Funds; and new debt financing to be provided under a facility agreement made available to Bidco by the Lenders. The transaction is subject to target shareholders, court, target board approval. As of April 24, 2023 Medica Group Plc board unanimously approved the deal. As of June 9, 2023, the transaction has been approved by the shareholders of Medica Group. The transaction is expected to complete in Q2 2023. As on July 4, 2023, court has approved the scheme and effective date of transaction will be July 6, 2023.

Travers Smith LLP acted as legal advisor and James Thomlinson, Ashwin Pai and William Brown of Jefferies International Limited acted as financial advisor to IK Partners. Robert Newman of DLA Piper UK LLP acted as legal and Julian Oakley, Simon Elliott and Harrison George of Evercore Partners International LLP as financial advisor and fairness opinion provider, Phil Walker, Mark Harrison and Richard Lindley of Liberum Capital Limited and Freddie Barnfield, Stuart Ord and Duncan Monteith Numis Securities Limited acted as financial advisor to Medica Group Plc. Harry Thimont, James Fletcher and Tim Rennie of Ashurst LLP advised Jefferies International Limited (financial advisor) in the transaction. Barings Supports Public to Private Transaction of Medica Group plc by IK Partners

IK Investment Partners Fund IX managed by IK Partners completed the acquisition of Medica Group Plc (LSE:MGP) on July 6, 2023.