Vitruvian Acquires Majority Shareholding in Phlexglobal from Bridgepoint
Phlexglobal, the world-renowned thought leaders and specialists in the provision of electronic Trial Master File (eTMF) systems and services to the life sciences industry, today announced a significant investment by funds managed by Vitruvian Partners (“Vitruvian”). The transaction establishes Vitruvian as majority shareholder of Phlexglobal, while previous majority investor Bridgepoint Development Capital (“BDC”) will exit the company.
BDC has been a supportive partner to Phlexglobal since 2014. The new ownership will enable Phlexglobal to expand the global footprint of its industry-leading service offering and PhlexEview4 technology platform, in order to build on the Company’s premier position in a fast-growing market.
Rick Riegel, Chief Executive Officer of Phlexglobal, commented:
“The Trial Master File is at the center of the clinical trial workflow and crucial to managing increasing regulatory scrutiny. We expect growth across all aspects of the business as pharmaceutical sponsors recognize the advantages of both quality and efficiency in their TMF processes, thereby drawing increasingly on specialist TMF technology and service providers. We have enjoyed significant growth under BDC’s ownership, extended our customer and operational base and relaunched PhlexEview, our eTMF platform. As we seek to continue to strengthen and extend our market-leading customer proposition, the investment from Vitruvian allows us to accelerate our plans and further enhance the depth and breadth of our technology and service offerings.”
Philip Russmeyer, a Partner at Vitruvian, added:
“Vitruvian is delighted to invest in Phlexglobal at a time of continued rapid market growth for eTMF services and technology providers, and following the highly successful launch of the PhlexEview4 platform. Our investment will allow the company to build on this success and to accelerate growth both organically and inorganically by further leveraging its unique full-service technology-enabled proposition. We are very pleased to partner with Phlexglobal’s outstanding management team and look forward to jointly driving the next phase of the company’s global development.”
Alan Payne, a partner of Bridgepoint Development Capital, said:
“As the outsourced pharmaceutical industry has grown on the back of increased R&D spend and more complex regulation, so too has Phlexglobal expanded with new technology and services. By extending its reach to customers the company is now well placed to accelerate development further under new ownership.”
Notes to Editors
For further information on Phlexglobal, please visit http://www.phlexglobal.com
Phlexglobal is a leading provider of Trial Master File (TMF) solutions for global clinical trials, and has been central to the maturation of the TMF across the industry through participation in the creation of the TMF Reference Model. With approximately 70 active clients including 26 of the top 50 pharmaceutical companies, Phlexglobal is recognized as the predominant global TMF specialist in the market.
The company’s cloud-based, fully configurable PhlexEview eTMF platform supports the company’s full service offerings including TMF Processing, Quality Control, Re-mapping, Archiving and a wide range of consultancy services. Phlexglobal operates from five offices, across the US, the UK and Poland.
The company and previous shareholders including Bridgepoint Development Capital were advised by Baird, Travers Smith, CIL, EY and Intuitus. The management team was further advised by Liberty Corporate Finance, BDO, Fox Rothschild and Shoosmiths.
About Vitruvian Partners
Vitruvian is an independent private equity firm which specializes in growth middle-market investments. Vitruvian focuses on dynamic situations characterized by rapid growth and change across industries spanning information technology, life sciences & healthcare, media, and financial, business and consumer services. Vitruvian is currently investing the Vitruvian Investment Partnership II, which closed in December 2013 at its self-imposed cap of £1 billion. The firm’s previous investments in the technology and healthcare sectors include CRF Health, Just Eat, Snow Software, Callcredit Information Group and Healthcare at Home.
Vitruvian was advised by BDO, Kirkland & Ellis, Marlborough Partners, PwC, KPMG, Bearing Point, Marsh and Wardynski.
About Bridgepoint Development Capital
Bridgepoint Development Capital (‘BDC’) provides funding to businesses headquartered in France, the Nordic region and the UK, typically buyouts valued up to £150 million. BDC has a team of 26 investment professionals wholly dedicated to its investment activity and operating from offices in London, Paris and Stockholm. It is part of Bridgepoint, the international private equity group, which invests in businesses valued between €20 million and €1 billion from a network of offices in Frankfurt, Istanbul, London, Madrid, New York, Paris, Shanghai, Stockholm and Warsaw. BDC is currently investing BDC III, a £600 million fund focused on investments in fast growing businesses in Europe valued up to £150 million.
Gillian Gittens, Head of Marketing
Tel: +44 149 472 0420
Tel: +44 207 457 2005
Tel: +44 207 034 3555
Om Business Wire
Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.
Følg saker fra Business Wire
Registrer deg med din epostadresse under for å få de nyeste sakene fra Business Wire på epost fortløpende. Du kan melde deg av når som helst.
Siste saker fra Business Wire
AGCO Announces a New Data Connection with The Climate Corporation’s Climate FieldViewTM Digital Agriculture Platform19.10.2017 14:30 | Pressemelding
AGCO Corporation (NYSE:AGCO), a world-leading manufacturer and distributor of agricultural equipment, announced today a new digital partnership with The Climate Corporation, a subsidiary of Monsanto Company (NYSE:MON), that will provide AGCO customers the option to connect with The Climate Corporation’s Climate FieldView™ platform. AGCO’s partnership with The Climate Corporation is a product of Fuse and its open approach to agriculture, which focuses on helping customers optimize their farms through seamless technology integration and connectivity. “AGCO is excited to work with The Climate Corporation to give our customers yet another choice for Precision Ag solutions,” says Chris Rhodes, director Fuse Business Development. “The Climate FieldView platform is the world’s most broadly connected and adopted farm insight and visualization platform, and AGCO is pleased to be creating a tigh
Arrive Safely: Head to Tirendo and Equip Yourself Properly for Your First Winter19.10.2017 14:25 | Pressemelding
The days are getting shorter, and the thermometer is dropping. Especially for new drivers looking forward to their first winter behind the wheel, the sudden onset of snowy and icy roads can be a real challenge. Even more important, therefore, to make sure that you have the appropriate tyres for wintry driving conditions. Tirendo shares some tips on what this involves. This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/20171019005888/en/ Head to Tirendo and equip yourself properly for your first winter - Photo source: ENZO In winter weather above all, the correct tread depth is crucial for safe driving. The legal minimum throughout Europe is 1.6 mm, however experts recommend at least 4 mm in snowy and icy conditions to ensure sufficient grip. To measure your tyre’s tread depth, simply take a two euro coin:
EURid Reveals the Nominees for The 2017 .eu Web Awards19.10.2017 13:48 | Pressemelding
EURid, the .eu and .ею registry, has released the nominees for its .eu Web Awards. The .eu Web Awards is an online competition, launched in 2014, where .eu and .ею websites can be nominated for a chance to win a prestigious award to be presented at a stunning ceremony in Brussels. “As with every iteration of the .eu Web Awards, we are so pleased and humbled to award our domain name holders’ online efforts. We are so grateful to have them in our community and want to show them the support they deserve”, commented Giovanni Seppia, EURid’s External Relations Manager. EURid is pleased to unveil this year’s final nominees, which represent the vast diversity and creativity that embodies Europe: The Leaders An established national business that is currently in operation and possesses multiple years of industry experience.
Andersen Tax Launches in Canada19.10.2017 13:30 | Pressemelding
Andersen Global is proud to announce the launch of the Andersen name in Canada as SdM Chartered Professional Accountants Inc. formally adopts the name Andersen Tax. SdM, a tax firm based in Montreal, Quebec, became a collaborating firm of Andersen Global in June of 2016 and has now formally joined the organization as a member firm under the name Andersen Tax. “We have been working with Simon and the team in Montreal for several years now, and I’m confident that together we will continue finding the best solutions for our clients,” said Global Chairman and CEO of Andersen Tax LLC, Mark Vorsatz. “Our shared name demonstrates the like-mindedness of our partners and the adoption of the Andersen name in Canada further strengthens our growing footprint in the region.” As Andersen Tax, the Canadian team will continue to provide tax, advisory and international tax services with an e
UL Joins Sustainable Apparel Coalition19.10.2017 12:00 | Pressemelding
UL announces that it has joined the Sustainable Apparel Coalition (SAC) and will use the group’s sustainability measurement tool, the Higg Index, to drive environmental and social responsibility throughout its supply chain. With its membership in the SAC, UL joins more than 200 global brands, retailers and manufacturers, as well as government, non-profit environmental organizations, and academic institutions, which are collectively committed to improving supply chain sustainability in the apparel, footwear and textile industries. UL partners with clients to support them with every aspect of sustainability and supply chain management, including developing a proactive stance and demonstrating ‘green’ and sustainable credentials, assist in gaining better visibility into supply chain issues and mitigate risk and implementing customized and comprehensive Environmental Mana
Phase III Efficacy and Safety Data for Oral Ozanimod in Relapsing Multiple Sclerosis to Be Presented at MSParis2017 – 7th Joint ECTRIMS – ACTRIMS Meeting19.10.2017 11:30 | Pressemelding
Celgene Corporation (NASDAQ:CELG) today announced that new data on the efficacy and safety of ozanimod, a novel, oral, selective, sphingosine 1-phosphate 1 (S1PR1) and 5 (S1PR5) receptor modulator, in relapsing multiple sclerosis (RMS) were accepted for the MSParis2017 – 7th Joint ECTRIMS – ACTRIMS Meeting, which is being held in Paris, October 25-28, 2017. “Our strong presence at this year’s meeting and the breadth of data being presented on ozanimod highlight our commitment to bringing forth ozanimod as a potential novel, oral therapeutic option for people with multiple sclerosis,” said Terrie Curran, President, Celgene Inflammation and Immunology. Full results from the phase III SUNBEAM™ and RADIANCE™ Part B studies evaluating two doses of oral ozanimod compared with Avonex® (interferon beta-1a) (IFN) in people with RMS will be presented as an oral and a late-break
I vårt presserom finner du alle våre siste saker, kontaktpersoner, bilder, dokumenter og annen relevant informasjon om oss.Besøk vårt presserom