LEADING North East commercial law firm Muckle LLP has provided legal advice on a private equity investment into a specials pharmaceutical company based in Surrey, having gained significant experience in the sector in the North East.
Vertical Pharma Resources (trading as IPS) manufactures unlicensed medicines, known as ‘specials’, which are used to treat patients who don’t respond to prescribed medication, for instance due to allergies.
The firm received legal advice from Muckle LLP as it secured private equity investment by Elysian Capital in a deal that allows two of IPS’s four founders to exit the business.
Muckle LLP was well placed to advise on the IPS transaction having worked closely with the Specials Laboratory Limited since 2003, providing legal advice on a range of key issues and strategic developments, as well as working on the Quantum Specials transaction last year.
Robert Phillips, partner and head of the commercial services group at Muckle LLP, said: “Having worked alongside both the The Specials Laboratory Limited and Quantum Specials, Muckle has real sector knowledge in the specials arena and was able to bring a detailed understanding of the sector to the transaction process.
“Muckle has worked closely with IPS over the last 12 months, helping the business to prepare for an investment that would support the continued development of this high growth firm. This has included advising IPS on how to attract an investor, helping to strip out unnecessary assets and providing guidance on the firm’s corporate responsibilities.
“We advised IPS throughout every stage of this transaction, including working on the sale and purchase agreement and helping to provide key details to the buyer as required. IPS also needed to ensure it owned the correct domain names for trading. Muckle also provided guidance on a clear exit strategy for the two shareholders leaving the firm following the investment.
“We have built a strong, ongoing relationship with IPS and continue to work with the firm on building up networks for future potential income streams.
“This investment has provided key capital to IPS, helping it to develop in this high growth sector and I’d like to wish the firm every success for the future.”
IPS has experienced strong growth since it was established in 2001, delivering specials direct to pharmacies predominantly across London and the South East. It will use the funding to take the business forward and capitalise on its solid customer and production-led foundations, driving geographic and service offering expansion.
Ashok Patel, CEO at IPS, said: “This investment is a real opportunity for IPS to grow geographically and to develop our service offering, building on the existing success of the firm.
“Muckle LLP has a first rate reputation, offering a client service that is second to none and the team there has always been on hand to offer support throughout the whole transaction. We have built up a good working relationship with the firm over the last year and it is great to work with a team that understands the nature our business so well.”
:: For more information on how Muckle can help, call 0191 211 7777 or visit www.muckle-llp.com.