Regent Assay advise IDE Vision on the acquisition of the MPSII Macular Pigment Screener from Elektron Eye Technology

Regent Assay has advised on the acquisition of the business and assets from Elektron Eye Technology by IDE Vision. The principal asset acquired is the MPSII, which was the world’s first commercially viable, patent-protected macular pigment measurement device which is used to determine the state of the macular pigment and has been shown to indicate the level of risk of a person developing Aged Related Macular Degeneration.

IDE Vision is led by David Smith, a medical devices industry veteran of over 25 years and previously the CEO of Elektron Eye Technologies. He has also held other senior roles at Coopervision, Carl Zeiss, Biocompatibles International plc, Tenaxis Medical Inc and others. David is supported by a senior management team that includes Esben Sorenson, an ophthalmic industry veteran with experience at Coopervision, Visaq, MESL and Ciba Vision.

David Smith has stated that “IDE’s vision is to develop the business internationally and to transition towards offering value-added easy to use and patient friendly systems which includes testing, selling supplements and monitoring the patient.”

The transaction was led by Ian Bussey and David Tucker at Regent Assay, with Moore Barlow providing legal support.


Regent Assay advise on acquisition of leading professional painting equipment and ducting brands

Regent Assay has advised a group of private investors on the acquisition of market leading professional painting equipment and ducting brands Gallito and FastClip from Filtermist International Ltd.

Gallito and FastClip were acquired as part of the acquisition of DCS Group two years ago, but were not deemed core to the growth strategy of Absolent Group AB, Filtermist’s parent company. As a standalone business, trading as Gallito Ltd, the senior management team welcomed the acquisition and the return to operating as a flexible SME: “This is an exciting development for the business which once again can now govern its own destiny. Management and the workforce are delighted that this means the company can decide on its own strategy and the direction the business should take”.

The investor group plan to leverage the advanced skill sets of the team and its market reputation to grow a diversified industrials group capable of offering design, manufacturing, fabrication and CNC machining to a broad range of sectors.

The transaction was led by Guy Hemington at Regent Assay, with Peter McLintock of Mills & Reeve providing legal support.


Regent Assay advises InfoFlex, the digital health software specialist, on its acquisition by Civica

UK based healthcare software specialist Chameleon Information Management Services Limited and its subsidiary, Flex Software Limited, trading as InfoFlex has been acquired by Civica UK Limited, the wholly owned subsidiary of Civica, a global leader in software for public services.

With over 25 years’ experience in the healthcare sector, InfoFlex provides a market-leading cloud enabled application with trust-wide and cross-organisation capabilities. A signatory to techUK's Health & Social Care Interoperability Charter, its software integrates with existing hospital systems, across 65 clinical specialities including; cancer services, digital remote monitoring solutions (RMS), Inflammatory Bowel Disease (IBD) and endoscopy. InfoFlex has more than 40,000 users across over 130 NHS trusts. During the COVID-19 pandemic, trusts have used InfoFlex in innovative ways to manage data collection and reporting. In one example, West Hertfordshire Hospitals NHS Trust used the software to set up a Virtual Hospital for the administration of patients being cared for in the community.

Marc Warburton, InfoFlex Chief Executive added: “As the next stage of our development, we’re excited to be joining Civica. This will enable us to benefit from the opportunities and expertise of the wider Group, helping us to support more customers in providing the data and information management software and innovation to improve health outcomes.”

Wayne Story, Civica Group CEO, said: “I am delighted to welcome InfoFlex into the Civica Group. The company’s market leading software and sector experience will strengthen our presence and expertise right at the heart of the NHS. We’re excited about the opportunities ahead to add even more value and digital capability for our customers and further help transform the way trusts deliver clinical care.”

Pradip Somaia, Partner at Regent Assay commented: “InfoFlex’s secure, clinically led, function rich, proprietary information management software, which enables efficient workflow and data management, fits very well into Civica’s excellent software portfolio.  Both companies share a common goal of building software that enables a more efficient and effective UK Public sector and a combined offering by Civica will enable trusts to transform the way they deliver clinical care. It was a real pleasure to be advising InfoFlex and believe the synergies will be immense for both parties as they can further exploit and develop innovative digital software for the healthcare space. Both parties displayed the utmost level of professionalism and integrity throughout the transaction and we all wish them a great future together.”

Marc Warburton, Chief Executive, InfoFlex commented on Regent Assay’s role in the transaction: “I want to thank you Ian, Pradip, Gerard and Hana at Regent Assay for your expert handling of this sale, you made it a (relatively) stress free process and enabled us to find the level of company we were hoping for to secure the work we’ve done over the last 25 years! I am particularly grateful to Regent Assay Partner Pradip Somaia for his wholehearted efforts in such challenging times. His commitment to this project was brilliant. It has been excellent working with the Regent Assay team and I learned a huge amount throughout this process.”

Regent Team comprised Ian Bussey, Partner, Pradip Somaia, Partner, Hana Glanville, Transaction Support Executive and Gerard Halligan, Executive.


Regent Assay advises DTR Medical on its acquisition by Innovia Medical

Regent Assay is pleased to announce it acted as the exclusive corporate finance advisor to the shareholders of DTR Medical Ltd (‘DTR Medical’ or the ‘Company’) on its acquisition by US manufacturer Innovia Medical.

Based in Wales, United Kingdom, DTR Medical is a multi-award winning manufacturer of quality and innovative single-use instruments. The Company sells its diverse range of sterile surgical instruments and medical consumables to over 30 countries, 400 NHS surgical centres and most Private groups operating in the UK. Flagship products include the Rotating Biopsy Punch, Frazier Suction Handle, Tibbs Arterial Cannula and Ear Specula.

Innovia Medical, backed by Shore Capital Partners, is a family of specialty surgical companies that are passionately committed to partnering with medical professionals to help elevate the delivery of patient care and improve clinical outcomes. Innovia Medical companies include Summit Medical, Shippert Medical, Network Medical.

Terry Meredith (Chief Executive of Innovia Medical) stated "The strategic acquisition of DTR Medical will further strengthen Innovia’s global position in the ENT and Ophthalmic market; in addition, providing new opportunities in areas such as Gynaecology and General Surgery.”

Richard Salvage (Chairman and Founder of DTR Medical) commented on Regent Assay’s role in the transaction: “The Regent Assay team led by Ian Bussey provided us with expert guidance throughout the sale process. We initially engaged with them in mid 2018 prior to our planned exit as part of their Equity Acceleration Programme, which not only helped us to focus on key areas of value creation but ensured we managed out any risks in our business prior to sale. This strategic advice was an invaluable service and helped us to prepare in a timely manner the business for an optimum sale. We would not hesitate to recommend them for any corporate finance advice and we look forward to the next phase of the DTR journey.”

Andrew Davidson (Managing Director of DTR Medical) continued, "We are excited to be partnering with Innovia Medical as this investment will allow us to continue to develop our innovative surgical solutions, whilst bringing our products to a wider global audience.”

Regent Assay initiated discussions and negotiations in a process that ultimately resulted in a successful transaction with Innovia Medical. The transaction highlights Regent Assay’s deep expertise in the Healthcare sector, following transactions with CooperSurgical, National Slimming & Cosmetic Companies and Reed Shilling Healthcare.


Assay Corporate Finance merges with Jasper Corporate Finance to expand its UK national coverage

London based Assay Corporate Finance has today announced the merger with renowned Birmingham financial services boutique, Jasper Corporate Finance. The merger between Assay and Jasper will expand Assay`s service offering and geographical coverage. The enlarged firm will operate under the name Assay Corporate Finance, with offices in both London and Birmingham.

 

Assay Advisory, the consulting arm of Assay, will also work with the enlarged client base to help a wider number of clients increase their equity value using Assay`s proprietary consulting methodologies.

 

The coming together of two long-established practices will create a UK firm of 14 experienced advisors and analysts focussed on mid-market transactions from £5m - £50m. With increased specialist sector knowledge and a deeper pool of resources on which to draw, Assay’s goal is to continue to provide the highest quality advice and support to its diversified portfolio of high-profile UK and international clients.

 

Mike Simson, Partner at Assay said “The merger of Jasper and Assay will increase both firms’ geographic coverage and specialist sector knowledge. We are very excited about the opportunities this creates for the enlarged firm”.

 

The founders of Jasper have grown and established the firm as one of the Midlands leading boutique CF houses over the past 15 years. Commenting on the merger, Mark Asplin, founder and principal of Jasper said “Having spent the last couple of years reviewing our business model and exploring a number of options, the decision to join with Assay was driven by both firms’ shared values and philosophy that the people with the experience should be at the front-line of the transaction, providing advice directly to clients, and that this will remain at the heart of every deal we do going forward. In addition the Jasper team are excited by the prospect of working with Assay Advisory`s unique product set which will drive value for clients who are considering an exit over the next few years.”

 

The combined business will continue to serve the Mid-Market and provide the same high level of service with greater domestic reach. Jasper`s clients will also benefit from the breadth of local knowledge in over 60 cities across the globe which Assay can leverage to achieve the best outcomes for their clients.”

 

To understand more about Assay Corporate Finance or to discuss any issues concerning company sales, acquisitions, fundraisings, shareholder restructurings or ongoing corporate advisory services please call us on 0207 798 2840.


Assay advises Rapita Systems Ltd on the sale of the business to Danlaw Inc

Assay Corporate Finance is pleased to announce that it successfully advised the shareholders of Rapita Systems Ltd ("Rapita”), a leading provider of real-time verification solutions for aerospace and automotive embedded systems, on the sale of their business to Danlaw Inc. (“Danlaw”), a global connected vehicle, automotive electronics and embedded engineering enterprise.

"The Rapita family of testing products complement our unique Mx-Suite™ automated environment for MIL/SIL/HIL testing,” said Dan McClung, Danlaw's VP of Engineering Solutions. “With the integration of Rapita products, Danlaw has strengthened its portfolio of embedded software tools to include on-target testing. This extended tool suite further addresses the needs of automotive and aerospace functional safety requirements.”

The Rapita family of products includes:

RapiTime™ – Performance measurement and timing analysis, including worst-case execution time (WCET)
RapiCover™ – Structural coverage analysis, including MC/DC coverage
RapiTask™ – Visualization of RTOS scheduling and event tracing
RapiTestFramework™ – Unit testing and module based testing

"This acquisition opens great opportunities for Rapita to consolidate and to grow its customer base, in particular to expand the operations in the USA. Our customers will benefit from our combined toolset and expertise along with a worldwide engineering service infrastructure.” says Dr. Guillem Bernat, CEO of Rapita Systems.

Raju Dandu, Chairman of Danlaw, says, "Rapita fits perfectly with the aggressive growth goals set for our engineering solutions division. Our strategic plan included further addition of software engineering tools and global expansion of our engineering services; this acquisition delivers on both. We welcome the Rapita team into the close-knit Danlaw family."

Ian Broster, founder of Rapita had the following to say on Assay Partner Ian Bussey’s role in leading the transaction: “I just wanted to say a huge thank you to you for how you have handled this deal. You have been absolutely amazing in your control of the deal, coordination, negotiation and problem solving. It was a superb job. Well done indeed.”

About Danlaw:

Danlaw's 500+ engineering professionals have been providing connected vehicle telematics and automotive embedded electronics solutions to OEM's and their Tier-1 supply base for over 30 years. Danlaw has facilities in the USA, Europe, India and China. Danlaw’s specialty areas include embedded systems development and testing for Embedded Control Units (ECUs), vehicle network communications, infotainment, and telematics. Their customers include Automotive OEMs, automotive electronics suppliers, fleet and automotive insurance companies worldwide.

About Rapita Systems:

Rapita Systems Ltd., located in York, UK, specializes in providing on-target software verification solutions for large, critical real-time embedded software systems in the avionics, space and automotive electronics markets. Rapita Systems’ unique tools and services enable customers to reduce the cost and effort to perform software verification for critical embedded systems.

About Assay Advisory

Assay combines extensive transaction experience with an analytical and quantitative framework in order to transfer its knowledge to business owners.

Assay’s unique service offering blends the organisational transformation elements of consulting with the strategic elements of corporate finance. They specialise in getting investors or acquirers to value their business from a strategic perspective by focusing on the valuation multiple, instead of treating it as a simple financial transaction.

Assay is the UK member firm of IMAP which gives it unrivalled international reach with M&A offices in 35 countries.


Assay advises Government Grant and Tax Consultants Ltd on an investment from Foresight Group

Assay Corporate Finance is pleased to announce that it successfully advised the shareholders of Government Grants and Tax Consultants Ltd (“GGTC”) in arranging a significant minority investment in GGTC and its wider Group from private equity investors, Foresight Group (“Foresight”).

The investment will support the growth of the business and aid the development of other companies in the Group.

Founded in 2006 by John Penn, Chairman, and Jeremy Tear, Managing Director, GGTC provides research and development tax credit support to UK-based SMEs. Companies in the wider Group including, Capital Allowances Specialist Ltd and Patent Box Consultants Ltd, also provide support services to UK SMEs looking to gain access to government tax incentives which have proved an important enabler to growth.

In addition to supporting the continued growth of GGTC across the UK, Foresight’s investment will assist the Group as it looks to diversify its product and service offering, providing further much needed support to UK based SMEs. GGTC currently has two offices, one based in St Albans and one in Hertford.

Jeremy Tear, commented:

“Assay Advisory and its corporate finance arm, Assay Corporate Finance worked with us for over 18 months doing all the ground work helping us find a future for the company.  Assay did a lot more for us than just their corporate finance job and their support has been fantastic.”

Mike Simson, Assay Advisory Partner commented:

“The GGTC project is a great example of how our consultants worked with the client preparing the business for exit which then lead onto a transaction initiated and advised by our corporate finance team.”

December 2015

About Assay Advisory

Assay combines extensive transaction experience with an analytical and quantitative framework in order to transfer its knowledge to business owners.

Assay’s unique service offering blends the organisational transformation elements of consulting with the strategic elements of corporate finance. They specialise in getting investors or acquirers to value their business from a strategic perspective by focusing on the valuation multiple, instead of treating it as a simple financial transaction.

Assay comprises 12 consulting partners and 5 transaction partners based in the UK, USA, Australia and Benelux.


Assay advises CooperSurgical on the acquisition of The Pipette Company

Assay Corporate Finance is pleased to announce that it successfully advised CooperSurgical, a leading provider of women’s health care solutions, on the acquisition of The Pipette Company (“TPC”) of Adelaide Australia.
Aforemost manufacturer and distributor of micro pipettes for the ART market, TPC’s line of high quality products developed specifically for micromanipulation and IVF applications will be integrated into CooperSurgical’s world leading ART company ORIGIO. With TPC’s product lineup, ORIGIO will enhance its already strong pipette offering improving its position to meet the needs of customers within the ART segment.

“The Pipette Company’s innovative line of micro pipettes is a perfect fit with our ORIGIO (Humagen) pipette offering enhancing ORIGIO’s mission to provide world-class solutions for ART professionals” said Paul Remmell, President and CEO of CooperSurgical. “Providing customers with the highest quality micromanipulation products they require is the catalyst for enhancing our ART portfolio” added Remmell.

About CooperSurgical

Since its founding in 1990, CooperSurgical has researched, developed and manufactured a wide range of trusted brands that have advanced the standard of women’s health care. CooperSurgical products are used by physicians and health care professionals in hospitals and their practices for a wide variety of procedures from basic annual gynecological exams to complex surgeries.
CooperSurgical Inc., is a wholly owned subsidiary of The Cooper Companies (NYSE: COO). The company, headquartered in Trumbull, CT produces and markets a wide array of products for use by women’s health care clinicians. More information can be found at www.coopersurgical.com

About Assay Advisory

Assay combines extensive transaction experience with an analytical and quantitative framework in order to transfer its knowledge to business owners.

Assay’s unique service offering blends the organisational transformation elements of consulting with the strategic elements of corporate finance. They specialise in getting investors or acquirers to value their business from a strategic perspective by focusing on the valuation multiple, instead of treating it as a simple financial transaction.

Assay is the UK member firm of IMAP which gives it unrivalled international reach with M&A offices in 35 countries.

 


Buckingham advises The Co-operative Group

The Co-operative Group (tCG) is the UK’s largest mutual business, owned by over six million consumers. It is the UK’s fifth biggest food retailer, the leading convenience store operator and a major financial services provider.

Sunwin Services Group is a wholly owned subsidiary of tCG and its Fire Detection & Electronic Security Division provides a multi faceted design, installation and maintenance service tailored for any business size.

Buckingham initiated the transaction and advised tCG on the sale of Sunwin Fire and Security to Kings Security Systems.

Kings Security Systems, based in Bradford, West Yorkshire, provide an extensive range of retail loss prevention and commercial security systems to the UK market and have a wealth of experience within this specialist industry.

Buckingham’s team was led by Mike Simson and supported by James Pettifer. They worked alongside law firm Pinsent Masons.