Moorcrofts advises on £25.6m company sale
Moorcrofts has recently advised the selling shareholders of Adamas Consulting Group Limited (“Adamas”) on a c.£25.6m sale of their shares in Adamas to Ergomed PLC, a global provider of services to the biopharmaceutical industry. As part of the sale, the existing senior executive team will continue in their roles in the business.
Moorcrofts’ corporate partner, Nicola Bennett, and corporate consultant, Adrian Phillips, led the transaction with support from Mohsin Shabbir (corporate solicitor), Usha Guness (technology solicitor), Julia Ferguson (commercial property partner), Matt Jenkin (employment partner) and Lindsey Abbott (employment solicitor).
Established in 1997, Adamas is a well-renowned international specialist consultancy with offices in Berkshire, Mumbai and Massachusetts. Adamas has built a reputation over the last few decades as a provider of a range of quality assurance services and auditing in the pharmaceutical and healthcare industries in addition to auditing of clinical trials and pharmacovigilance systems.
Nicola Bennett said:
“Moorcrofts has worked with Adamas for many years on multiple engaging and interesting projects and so it has been a pleasure to assist the shareholders with this sale. I have particularly enjoyed working with and getting to know the shareholders and the wider management team on this transaction. We wish Patricia and Gary well in their retirement and wish Ian Montague, his team and Ergomed all the best moving forward”.
Dr Patricia Fitzgerald, Adamas’ former executive Chairman, said the following
“Having founded Adamas around twenty-five years ago, I am so proud that it has developed into such a successful firm with recognition for providing excellent research quality assurance services to the life sciences industry. We are so pleased that it has been acquired by such a renowned name in our industry. We are very thankful to Nicola and Adrian and the wider Moorcrofts team for their advice and guidance during this process as well as the professional approach and efficient manner in which they conducted themselves throughout”.
Ergomed PLC was advised by Covington and Burling LLP.
BDO LLP provided tax and corporate finance advice to the shareholders
Moorcrofts regularly acts for buyers, sellers and investors across a broad range of industry sectors. With a wide array of clients, from PLCs and household names to sole traders and partnerships, Moorcrofts has the expertise to advise on all aspects of corporate transactions.
For more information about Moorcrofts corporate services, visit our corporate services page or contact a member of the corporate team.