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Client: Fishawack Communications

MBO / acquisitions

Deal Background

Fishawack Communications Limited (Fishawack) is an established, specialist healthcare communications agency focussed on the medical sector. Their clients include Sanofi-Aventis, Pfizer, GSK, Bayer-Sherig and Shire.

The companies acquired post-MBO were Ascendant Communications Inc, a US based medical communications group, Alpha-Plus Medical Communications Limited, a UK based agency, and Phocus Holding GmbH, a Swiss-based agency.

How Langtons Helped

Langtons acted as lead advisors for the management team and shareholders of Fishawack during both the MBO and subsequent acquisitions.

In the MBO, Langtons helped by assisting with the preparation of a comprehensive business plan and financial projections, structuring the transaction, and contacting and managing the process with potential funders.

During the subsequent acquisitions, Langtons assisted by undertaking financial due diligence on all 3 companies, helping negotiate the transaction, and providing support during the legal process.

Results

The initial Management Buy-Out (MBO) was supported by equity investment from YFM Private Equity and The Co-Operative Bank.

The acquisitions were all successfully completed, forming part of a larger strategy of a โ€œbuy and buildโ€ plan to see the Fishawack group grow into the leading independent medical communications agency in the UK.