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 advised the CEO of Molecular Dimensions on the structuring of the MBO transaction, negotiations with the parent company, and helped raised bank finance.
PEM Corporate Finance acted as advisers to Tony Savill, CEO of Molecular Dimensions and its US affiliate Molecular Dimensions Inc. We advised on structuring the transaction and helped Tony to negotiate the terms of the buyout from Stratech Scientific Limited. We also raised the finance to support the purchase.
Molecular Dimensions is a world leading supplier of screens, reagents and instrumentation for protein structure determination by X-ray crystallography.
Headquartered in Newmarket, Suffolk it has offices in the USA and distribution in Asia. Founded in 1998 it has grown through alliances with leading scientists aimed at developing and commercializing innovative ideas. Alliances include the MRC Laboratory of Molecular Biology Cambridge, Imperial College London, and the York Structural Biology Laboratory, University of York.
The company currently has over 20 projects in development from new screens and reagents for crystal growth, new laboratory plastic-ware, to a range of instrumentation.
The transaction took many months from inception to completion due to the difficulty in progressing transactions in 2010. This was due to recession and the lack of liquidity in the banking market. We continued to support Tony through the process and ultimately were able to secure a choice of financing for him.
The deal was supported with term lending and asset based finance from HSBC’s Technology Division based in Cambridge alongside equity from management.