Friday October 7, 2022

Gateley buys Symbiosis to boost its IP offer

Our team at FRP Corporate Finance has advised the shareholders of specialist legal firm Symbiosis IP on its £2.5 million sale to AIM-listed professional services group Gateley (Holdings), in a deal that marks the culmination of decades of work.

Symbiosis IP is a life science specialist that supports early stage and university spin-out companies, working to maximise protection for their innovations. It also works with established businesses and household names to acquire and defend their IP rights, from its offices in York, Evesham, Sheffield and Cardiff.

Founded in 2008 by Directors Julie Myint and Rob Docherty, it posted revenues of £1.8 million for the year to April 2022.

Our team was engaged by Symbiosis IP to help find a like-minded organisation where it could be part of a larger professional services platform, giving its clients access to additional services and specialisms.

A key priority was to find a new owner with a complementary culture, so Symbiosis’ clients benefited from continuity of service as well as additional expertise.

Our team at FRP Corporate Finance, led by Partner Heath Snyder and Manager Amy Murphy, identified Gateley Holdings PLC as the buyer with the best fit, which is working to build a patent and trademark attorney offering through a mix of acquisitive and organic growth.

Julie Myint, Director of Symbiosis IP, said: “We spent a long time working with the FRP Corporate Finance team to find the right partner with the same beliefs and client-centric culture as our own. We are always building on our specialist experience for the benefit of our clients and I’m confident this will only continue as we join the Gateley group.”

Rod Waldie, Chief Executive Officer of Gateley, added: “The acquisition of Symbiosis IP forms part of an acquisitive and organic growth plan that builds on the expertise we have in the intangible assets market and where we believe there is potential for further development.

“This strategic acquisition will extend the reach of our offering in IP, patents and trademark work across our consultancy and legal services teams who operate in this field.”

Heath Snyder, Partner at FRP Corporate Finance, said: “Whilst the market remains challenging given the economic backdrop, Symbiosis IP is a life science specialist and the post COVID environment remains very positive in this sector.

“This was a once in a lifetime transaction for our clients, culminating decades of hard work, and it has been a pleasure to advise the four shareholders of Symbiosis IP on such an important deal. We worked together closely to ensure that the right partner was found, and by joining Gateley and their existing IP attorney business I believe the Symbiosis business will flourish.”