Dains advise on the management buy-out of Creative Medical Research
Dains Corporate Finance has advised on the management-buyout of Creative Medical Research, the UK’s leading specialist medical device market research consultancy.
The management team, led by Managing Director George Ashford, has acquired the Ipswich-based business in a multi-million pound deal. This acquisition allows George Ashford, who has been with the company for over four years, to continue to grow and develop the business.
Creative Medical Research was formed in 2003. The company supports medical device designers and manufacturers by providing them with specialist research services, allowing them to communicate with their target audience. The research conducted allows clients to understand how their audience perceives their idea, concept, device, marketing message and support materials. The company has an international client base, and manages a network of partners spanning 38 countries..
The difference we made
Corporate Finance advice on the transaction was led by Roy Farmer of Dains, overseeing the acquisition of the business from founders John & Sue Reynard after working closely with them to prepare the business for sale for over a year. Dains puts emphasis on clients seeking sales advice well in advance to ensure that we can make the actual sales process as smooth as can be. Tax advice was provided by David Bradshaw and Rebecca Prince, also of Dains. Legal advice was provided by Gary Davie of Shakespeares and Jo Bligh of Thinking Legal.
What our client said
John Reynard, founder of Creative Medical Research, said: “This was a well thought through deal helped massively by Roy Farmer and the team. We are thrilled to have been able to pass on our business to the management team and look forward to seeing further growth of the business in the future.”
George Ashford, Managing Director of Creative Medical Research, said: “I am excited to have the opportunity to build on John and Sue’s work, consolidating CMR’s position as a leading, global player in the medical device market research space and continuing to grow the business.”
What we said
Roy Farmer, Corporate Finance Partner comments: “John and Sue identified the area of medical device market research as an under-serviced area some years ago, and through the appointment and promotion of George to Managing Director the company has developed into a leading international specialist research business. As regards the transaction we have been working with George, John and Sue for over a year, and it has been a pleasure helping them achieve their respective goals. The principals put their trust in us to deliver the right deal for them, and it was pleasing that whilst the business is based in Ipswich we were able to provide all of the professional advice required out of the Midlands professional community.”