FRP team support investment search for Project Freedom

Background

Project Freedom is a specialist biometric clinical research organisation for clinical trials to biotechnology, pharmaceutical and medical device companies. Founded in 2007, it is headquartered in the UK and internationally. The company has established a terrific market reputation through an industry-leading service offering to a blue-chip client base.

Action

The shareholder and lead advisers were running a competitive investment process to support the continued growth of the company, and instructed FRP’s Corporate Finance team to provide a quality of earnings report to assist with the process of finding an investment partner. Our team produced the report in a timely manner, which helped to maintain the competitive process involving the shortlisted parties. Once the preferred party had been selected, our team continued to support the management and their lead advisers through the due diligence process, and assisted with the negotiation of the legal documents.

Outcome

The company secured investment from a leading European private equity firm, which will support the company’s growth in biometrics and geographic expansion. The investment was made in partnership with the company’s founder, who remains a significant shareholder in the business. He, together with the existing management team continue to run, manage and operate the business on a day-to-day basis.