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07/2026

H2 Equity Partners takes majority stake in Lynch Medical Supplies

IRELAND B2B Specialized Distribution / Hospitality Supplies EV €20–50M

Context

The private equity investment firm H2 Equity Partners has completed its acquisition of an equity stake in Lynch Medical Supplies to execute a strategic expansion plan across Irish healthcare channels. Finalized and formally announced on July 29, 2026, the primary buyout transaction structures a joint investment by the London-based investment partnership alongside founder John Lynch and Managing Director Robert Buckley, who both retain an equity interest in the ongoing business. The existing executive management team under Robert Buckley continues to oversee commercial logistics, hospital supply agreements, and technical distribution operations. This transaction represents the fourth platform investment completed in 2026 through the H2EP Fund VI vehicle, and marks the eighth founder-led platform transaction undertaken by H2 Equity Partners within the healthcare and medtech segments. The private equity firm previously established exposure to Irish medical wholesaling through the buyout of Cork-based distributor Healthcare 21, subsequently funding its bolt-on acquisition of medtech specialist Aquilant from United Drug. The transaction framework aims to capitalize on existing exclusive agency agreements held with international manufacturers of orthopaedic devices and surgical implants, expanding distribution capacity across public hospitals, private clinics, and retail pharmacies operating throughout the Republic of Ireland and Northern Ireland.

Lynch Medical Supplies, which reported an EBITDA margin of [members only] in 2024, is valued in this transaction at an EV/EBITDA multiple of 10x–18x, representing a premium to the average currently observed in the Business Services sector (11.4x).

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Target

Specialist in the distribution of medical equipment, implants, and orthopaedic surgical devices, Lynch Medical Supplies provides specialized product lines to clinical facilities across Ireland. Established in 2003 in Dublin by its founder John Lynch, the enterprise functions as a specialized intermediary linking global medtech manufacturers with domestic care providers. Its commercial operations rely on exclusive wholesale agreements secured with international developers of surgical technologies, combined with the continuous procurement of single-use clinical consumables. The business supplies public hospital systems, private surgical clinics, and community retail pharmacy networks operating throughout the Republic of Ireland and Northern Ireland. Day-to-day administrative execution and logistical distribution are directed by Managing Director Robert Buckley, who oversees product regulatory compliance, vendor relationship management, hospital procurement workflows, and technical support services for surgical practitioners across the island.

Ent. Value

€20–50M

Equity Value

[members only]

Multiples

EV / Revenue

1x–3x

EV / EBITDA

10x–18x

EV / EBIT

[members only]

Historical Financials (EUR)

Year
Rev
EBITDA
EBIT
2024
€5–25M
€0–5M
[members only]
2023
€5–25M
€0–5M
[members only]

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DateAcquirerTargetCountrySector
09/2026C&C GROUPNECTAR IMPORTSUNITED KINGDOMB2B Specialized Distribution
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07/2026KITWAVE GROUPFIFE CREAMERYUNITED KINGDOMB2B Specialized Distribution
07/2026KITWAVE GROUPCHARLES SAUNDERSUNITED KINGDOMHospitality Supplies
06/2026CREDIT MUTUEL EQUITYONELECFRANCEB2B Specialized Distribution
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03/2026BAIN CAPITALTingstadSWEDENHospitality Supplies
03/2026ONE EQUITY PARTNERSKITWAVE GROUPUNITED KINGDOMB2B Specialized Distribution
03/2026ITAL EXPRESSDIEDERICHS KAROSSERIETEILEGERMANYB2B Specialized Distribution
01/2026GROUPE BRUNEAUOFFICEEASYFRANCEOffice Supplies & Furniture

REFERENCES

Valuation range: EV €20–50M

Revenue range: €5–25M

EBITDA range: €0–5M

EV/Revenue range: 1x - 3x

EV/EBITDA range: 10x - 18x

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of Lynch Medical Supplies by H2 Equity Partners are reserved for mynth community members. Register for free to unlock full data.

Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.

Press release: view release

Target: lynch medical supplies

Acquirer: h2 equity partners