Majority sale of shares for Orbital Fabrications
PEM Corporate Finance were appointed by Orbital Fabrications to provide M&A advice on the sale of 80% of its shares.
We gave advice to the incumbent management as part of this acquisition from the Horseracing Betting Levy Board of the Horse Racing Forensic Laboratory (‘HFL’) by Quotient Bioscience.
Quotient BioResearch is a new company focused on building a group of businesses centred on high quality analytical and safety evaluation services, primarily for the global pharmaceutical and biotechnology industries. The acquisition of HFL, which delivers advanced analysis of biological and pharmaceutical compounds from a world-class facility near Cambridge, UK, marks a major step in achieving this strategy.
This deal was an acquisition from the public sector sold to an Management Buy-in (MBI) vehicle formed for the purpose, local management also participated in the transaction.
Ulster Bank Limited, a subsidiary of RBS, provided the debt finance for the acquisition alongside management equity.