A Shepton Mallet-based company specialising in nuclear medicine, radiotherapy and diagnostic radiology has been acquired for an undisclosed sum. Xiel will become part of London-based medical imaging business MIS Healthcare following the deal.
The acquisition will expand the London firm’s portfolio and allow it to offer a broader range of services to its customers in the UK and Ireland, it said.
MIS group, which generates over £50m in revenue, said the acquisition of Xiel would also supports its strategy of becoming a leading diagnostic imaging service and equipment provider with specialist oncology and radiotherapy capabilities.
Jack Knight, managing director of Xiel, said: “We are delighted to join forces with MIS Healthcare, an organisation that shares our commitment to delivering exceptional customer service and advancing cutting-edge technology within the healthcare sector.
“This merger brings an exciting opportunity to combine our extensive healthcare expertise and leverage the many synergies between our companies.
“Together, we will set new benchmarks in exceeding the expectations of our customers and suppliers. We look forward to this next chapter in Xiel’s journey and to achieving many future successes with MIS Healthcare.”
Business advisory firm Evelyn Partners in Bristol acted as lead advisor to Xiel. Paul Stagg, Alex Sowerby and Alfred Wigmore, part of Evelyn Partners’ corporate finance team, advised the shareholders of Xiel on the transaction.
Paul Stagg, director at Evelyn Partners, added: “We wish the whole Xiel team all the best in the future. It was a pleasure to support the shareholders on the sale of their business being the latest owner-managers we have supported in achieving their strategic objectives.”
Legal advice to Xiel was provided by Capital Law.
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