The Bristol corporate team at international law firm Osborne Clarke has advised on the sale of a pharmaceuticals services firm that started in the backroom of an NHS hospital in the 1970s.
The lawyers worked with the management team of Torbay Pharmaceuticals on its takeover by private equity firm NorthEdge, which specialises in the technology and healthcare sectors.
Torbay, which employs 250 staff at its HQ and 76,000 sq ft manufacturing facility in Paignton, Devon, supplies healthcare and medical organisations throughout the UK and internationally to 20 countries.
Over the past six years, it has enjoyed rapid growth, resulting in increasing demand for its commercial-scale sterile injectable fill/finish capabilities.
The investment by NorthEdge, which acquired Torbay Pharmaceuticals from the Torbay and Devon NHS Foundation Trust, will enable the firm to significantly expand its reach in North America while continuing to grow and invest in its team.
This will include greater automation of inspection and packaging processes and the strengthening of its plastic vial capabilities.
The Osborne Clarke team was led by Bristol-based partner Alisdair Livingstone, pictured, assisted by associate director Seamus McKimm and associate Matt Mayes.
Associate director Nicholas Haywood advised on employment with partner David Nisbet and senior associate Bridget Baillie advising on tax.
Torbay Pharmaceuticals CEO Emma Rooth said: “Osborne Clarke delivered a sense of calm throughout the transaction.
“We were provided with clear explanations free of legal jargon and hand holding when necessary.
“We felt like we were working with advisors who understood the key issues and always found the right solutions.”
Financial details of the transaction have not been disclosed.
Osborne Clarke’s corporate team advises companies in the pharmaceutical and life sciences sector, working with clients ranging from global businesses to fast-growth start-ups and market challengers.
The team advises at every stage of company development across all corporate issues, from equity and debt fundraisings to mergers and acquisitions, initial public offers and joint ventures.
