National law firm Shoosmiths has advised the management team of global tech specialists Phlexglobal on a significant investment by Vitruvian Partners ('Vitruvian').
Phlexglobal are world-renowned thought leaders and specialists in the provision of electronic Trial Master File (eTMF) systems and services to the life sciences industry. The transaction establishes Vitruvian as majority shareholder of Phlexglobal while the previous majority investor Bridgepoint Development Capital ('BDC') will exit the company.
The new ownership will allow 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.
The Shoosmiths team was led by corporate partner Sean Wright with Tim Moss and Robert Pook assisting. The team covered all legal aspects affecting management in relation to the Vitruvian investment.
Rick Riegel, chief executive officer of Phlexglobal, commented: 'The support from Sean and the team was excellent in all respects considering the tight timeframe we were all working to, to complete this investment'.
Sean Wright added: 'We are pleased to have assisted the management of Phlexglobal on this investment from Vitruvian which will open up significant opportunities for the future growth of the company and will help secure Phlexglobal's position as market leaders in this field. We wish both management and Vitruvian every success in the future.'
Shoosmiths' corporate team advises public and private companies, management teams, investors and debt providers through the business life cycle. Shoosmiths work with businesses from start-up and first round finance through to mergers and acquisitions, MBO and MBI transactions, development funding and on exits, by way of sale, listing or private equity investment.
Nationally, the corporate team is ranked in joint first place by deal volume in Experian's UK Deal Review and Advisor League Table. The team was recognised for its mergers and acquisitions expertise at the 2015 M&A Awards, winning the Law Firm of the Year category.