HMT Corporate Finance, led by partner Bruce Morrison, advised Premier Research Group (“PRG”), an international pharmaceutical services group, on the acquisition of Pivotal Research Centers Inc (“Pivotal”), funded by ECI Partners.
The acquisition continues PRG’s buy and build growth strategy to build a leading international contract research organisation, whilst also complimenting PRG’s existing offering in the market.
Pivotal is well established as a clinical research business based in Phoenix Arizona, with two further sites in Mesa and Salt Lake City. Today the business has 35 staff and its main focus is on Phase 1 clinical studies. It specialises in a number of therapeutic areas, including oncology, cardiovascular, dermatology, post operative analgesia and ADHD paediatrics.
Commenting on the acquisitions, Dr Simon Yaxley, Chief Executive of Premier Research said:
“We are delighted to have made the acquisition of Pivotal Research Centers, which has enabled us to significantly increase our Phase 1 clinical trial presence in the USA. Once again HMT provided solid advice on what was a tricky acquisition and we look forward to working with them again soon.”
Bruce Morrison of HMT commented:
“We were delighted to act for PRG on this acquisition in its buy and build strategy. We believe that Pivotal significantly enhances PRG’s Phase 1 capabilities and offers considerable growth potential from which PRG can continue its success.”