Image from Ascenti website

Private equity firm bd-capital has made its second investment into physiotherapy and mental wellbeing company Ascenti.

Ascenti started in 1996 as a small rehabilitation business helping victims of motor accidents recover from injury, and through organic growth and a series of acquisitions over the past 20 years has grown into an independent network of physical wellbeing services serving individuals, corporates, insurance companies, private medical insurers, and the UK government.

bd-capital will partner with the existing management team of Ascenti, led by chief executive Stephanie Dobrikova, who said: “We are excited to be partnering with the bd-capital team to take Ascenti to the next level, supporting us as we grow our network, invest in technology and expand our services. We immediately knew that we had found a great partner on meeting bd-capital and they have approached the opportunity to invest in Ascenti with openness, consideration and enthusiasm throughout all our discussions. I know I speak for my entire team when I say that we are excited to be working with bd-capital and am in no doubt that we have selected an exceptional partner.”

Following the investment, the management team and original founder will remain invested in the company, with David Johnston, operating partner at bd-capital, becoming chairman.

Richard Baker, managing partner and co-founder of bd-capital, said: “Ascenti is run by an exceptional team, who are on a journey to creating a very special company in the physical and mental wellbeing market. In our view, Ascenti’s team, digital proposition and national scale stands it apart from its competition and we are excited to be partnering with Stephanie and her team to help improve the lives of many more people across the UK over the coming years.”

Ascenti was advised by Arrowpoint Advisory (corporate finance), KPMG (financial), Lyons Davidson (legal), Shoosmiths (management advisory), and WA Communications (political).

bd-capital executed the transaction in partnership with advisory teams from PwC (financial), Weil, Gotshal & Manges (legal), LEK (commercial), Axis Arbor (debt advisory), M&G Investments (debt), McDermott Will & Emery (debt legals), Norton Rose (debt legals), European Valuations (debt support), Palladium Digital Group (technology), Marsh (insurance) and Ropes & Gray (compliance and regulation).

Date published: April 30, 2021

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