Investment firm MML Capital Partners has completed a management buy-out (MBO) of Gloucestershire-based medical company Vanguard Healthcare Solutions for £31 million.

Investment firm MML Capital Partners has completed a management buy-out (MBO) of Gloucestershire-based medical company Vanguard Healthcare Solutions for £31 million.

MML backed Vanguard’s incumbent management team led by Ian Gillespie and its original founders, Andrew Allen and Gary King. All three take a significant equity stake in the company.

Ian Wallis, MML partner, will join the Vanguard board. He says: ‘This is a fantastic opportunity to support a management team who have founded and successfully grown Vanguard through a relentless focus on service, quality and innovation.’

Senior debt was provided by HSBC’s south-west England’s office, while the management team was advised by Robson Taylor and Osborne Clarke.

MML says it has committed to provide further funds for expansion.