BPE Solicitors advise on £1 billion investment into Spectrum Medical Group
Cheltenham-based BPE Solicitors has acted for Gloucester's Spectrum Medical Group Limited on a partnership agreement with CVC Fund VIII worth £1 billion.
The investment will support Spectrum Medical’s aim to become a single solutions provider of medical devices by creating an ecosystem of products for clinical monitoring, patient safety and improved health economics.
The relationship between Spectrum Medical’s CEO and Founder, Steve Turner, and BPE Senior Partner John Workman started in Autumn 1996 and, having previously worked with the medical equipment developer on its acquisition of a minority share of Qura SRL in 2017, BPE had the opportunity to compete with major London firms to advise on this significant transaction.
Steve Turner said “We’ve worked with John and BPE for many years now and know that we will always get fantastic customer service as well as commercially savvy advice, which has been instrumental to Spectrum Medical’s growth.
“This transaction is an incredibly significant partnership for Spectrum Medical and it will allow us to continue on our growth journey and bring new and pioneering technologies to the cardiac bypass and ICU spaces”.
Corporate Partners John Workman, Louise Grzasko and Adam Kean led on the deal, with support from Kathryn King (Associate) Ben Adams (Solicitor) and Carter Rich (Trainee Solicitor) in the Corporate team, with support from colleagues across the firm including Technology Partners Sarah Kenshall, Christine Jackson and Rocio de la Cruz, Head of Property Services Jo Bewley, Employment Partner Sarah Lee and Commercial Partner Iain Garfield.
John Workman said “BPE has worked with Steve and his team at Spectrum for many years and seeing this transaction complete is major vindication to his drive, vision and innovation in founding a world class company. It is always great to work with Steve and his co-founder Mark Drain (CFO and a lynchpin of this transaction).
“This was a massive effort by the teams at BPE who worked to some very tight timescales so I am really proud of the monumental work we have achieved in what is BPE’s biggest ever deal. Congratulations to Steve, Mark and the whole team at Spectrum on this transaction”.
https://www.businessinnovationmag.co.uk/investment-values-gloucester-based-spectrum-medical-group-at-up-to-1bn/
