MDW Capital advises Amethyst Radiotherapy Group’s €300 million financing to fund its ambitious growth plans

London, 29th July 2024

MDW Capital is pleased to announce that it has advised Amethyst Radiotherapy Group (”Amethyst”), the leading pan-European private operator of radiotherapy providing state-of-the-art cancer treatment, and its shareholders in arranging a landmark €300 million financing with Ares Management. The facilities from Ares underline Amethyst’s leadership position in the European oncology sector, as it continues to accelerate its expansion, organically and via substantial, targeted, further M&A.

Founded in 2010, Amethyst has established itself as a leading multi-country radiotherapy services platform across Europe, treating more than 15,000 patients per annum across the oncology spectrum. Amethyst has delivered over 20% historical revenue growth and mid-20s% EBITDA margins while also investing in new capacity and its modern asset base to deliver best-in-class care to patients and excellent value for money service to state healthcare systems.

MDW Capital led the full-service refinancing, providing a full range of advisory support services throughout the process, including strategic capital strategy advice as well as practical support to the management team.

Andrew Nelson, CFO of Amethyst, commented “We chose MDW Capital to advise us because of their deep experience, partner-led approach and outstanding reputation for presenting borrowers’ needs and advocating for them better than any other. It makes such a difference for a management team to have a partner alongside us who really understands our and our shareholders’ objectives. The MDW team worked tirelessly to understand and articulate our story, which has evolved at pace over the last two years, presenting a compelling case to the market and ensuring that we were able to secure an outstanding result with a new partner who can support with such significant additional funding. Arranging these new facilities is a strategic landmark for Amethyst as we continue to deliver strong growth and consolidate our presence in our markets.”

Colin Clark, Partner and Head of Europe and Middle East Private Markets at The Rohatyn Group also commented “MDW Capital delivered exactly what they promised: an expertly conceived capital strategy and debt raising process, with high quality materials, hands-on support for management from start to finish and a highly attractive financing package for the company to enable the next phase of acquisition led growth. We look forward to working with them again in the near future.”

Andrew Aylwin, Managing Partner at MDW Capital added “Amethyst’s journey so far has seen significant change and growth in a dynamic market that has many more years of expansion and consolidation ahead of it. We have greatly enjoyed supporting management and the shareholders in securing this new financing, a strategic step in realising Management’s long-term accelerated growth plan. Yet again, our investor and borrower expertise, combined with business and sector insights, provide a significantly differentiated service and outcome for our clients.”