Berkshire based compliance company Adamas sold to Ergomed
Ergomed plc, a company focused on providing specialised services to the pharmaceutical industry, has acquired Berkshire-based Adamas Consulting Group, for £25.6 million.
Adamas is an international specialist consultancy offering independent quality assurance services and specialising in the auditing of pharmaceutical manufacturing processes, as well as auditing clinical trials and pharmacovigilance systems.
Moorcrofts advised Adamas. As part of the sale, the existing senior executive team will continue in their roles in the business.
Adamas will continue to operate as an independent consulting business following the acquisition. The existing senior executive team will continue in their current positions in the business, led by Ian Montague who will become President of Adamas Consulting, having been with the business for eight years and as Chief Executive Officer for the past three years.
Dr Miroslav Reljanović, Executive Chairman of Ergomed, said: “This value-enhancing acquisition aligns with our disciplined M&A strategy, strengthening our position as a focussed premium pharmaceutical services business, whilst further building our Group’s scale in the strategically important US, Europe and APAC regions. With this deal we are addressing the pharmaceutical industry’s ever-growing need for best practice quality assurance due to the increasing complexity of drug development, pharmacovigilance and manufacturing processes and associated regulatory requirements. We look forward to working with Ian and the ADAMAS management team as we invest in and support this business to deliver a broader service offering to clients.”
Ian Montague, Chief Executive Officer of ADAMAS, added: “Ergomed is a highly regarded business that shares our commitment to delivering regulatory compliance as well as the highest quality services to the global healthcare industry. Joining the Ergomed Group provides us with an even stronger platform and increased investment from which to grow our customer base, develop and scale up our offering and continue to deliver gold standard quality assurance services.”
Dr Patricia Fitzgerald, Founder and Executive Chairman of ADAMAS, said: “ADAMAS has gone from strength to strength over the last 25 years and has established a global reputation for providing excellent research quality assurance services to the life sciences industry. ADAMAS has been successful in building an extensive and stable client base and has inspired a high level of trust and confidence with many long-term relationships. It has been an exciting and challenging journey and I know that ADAMAS, accelerated by strong support from Ergomed, will continue to grow and offer outstanding QA support to its clients worldwide.”
Moorcroft's Corporate Partner, Nicola Bennett, said: “Moorcrofts has worked with Adamas for many years on multiple engaging and interesting projects and so it has been a pleasure to assist the shareholders with this sale. I have particularly enjoyed working with and getting to know the shareholders and the wider management team on this transaction. We wish Patricia and Gary well in their retirement and wish Ian Montague, his team and Ergomed all the best moving forward”.
