Cheltenham-based BPE Solicitors has acted for longstanding client, Spectrum Medical Group Limited (“Spectrum Medical”) on a partnership agreement with CVC Fund VIII (“CVC”) worth £1 billion.
The investment will enable Spectrum Medical 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 CEO and Founder, Steve Turner and Senior Partner John Workman started in Autumn 1996, and having worked with the pioneering medical equipment developer on its key 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.
This was a true team effort with Corporate Partners John Workman, Louise Grzasko and Adam Kean leading on the deal, with support from Kathryn King (Associate) Ben Adams (Solicitor) and Carter Rich (Trainee Solicitor) in the Corporate team, and calling on expertise 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, who all helped to ensure the complex elements of the transaction were carefully considered and completed seamlessly.
Commenting on the deal, 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)”.
John continues “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”.
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”.
To discuss how we can support your business, contact John Workman or a member of the BPE Corporate team on 01242 224433.
