July 2014 – GCP supports portfolio company Fishawack Group in its third acquisition in a year
GCP makes its fourth investment in 2014 as its portfolio company Fishawack Group acquires Facilitate
London – July 2014 – Growth Capital Partners (GCP), the provider of blended equity and debt to the UK’s small to medium sized businesses, today announces that it has funded the acquisition of Facilitate, a medical communications specialist based in Brighton, UK, by Fishawack, an independent medical communications agency based in Knutsford, Cheshire. This acquisition is part of Fishawack’s ongoing buy and build strategy and is the third bolt-on acquisition that it has made since GCP invested to support its secondary buyout at the end of March 2013. It is also the fourth investment that GCP has made this year.
Facilitate is a full-service medical communications agency and the team have also developed their unique Independent Global Leadership board service providing detailed daily content analysis by expert physicians at medical congresses, an offering which has resonated with many of their pharmaceutical clients.
Established in 2002 by Ann Dieckmann and Alan Bromley, the team at Facilitate has primarily been supporting global pharmaceutical clients based in the US and Europe. Whilst Alan will take this opportunity to leave the medical communications sector after over 30 years, Ann will stay with the business. “I am excited to be part of the Fishawack Group both for myself and for the team,” she explained. “We wanted to become part of a group that has global reach but remained focussed on medical communications.”
Facilitate will be integrated into the Fishawack Group, and Fishawack will provide them with additional resources and representation in the US. Recognising this, Facilitate will rebrand as Fishawack-Facilitate.
Garrett Curran, Partner at GCP, commented:
“We are delighted to continue our support for Fishawack in the latest step of their buy and build strategy. The acquisition of Facilitate provides a new service line and significantly enhances the relationship with a top 10 global pharma client, both of which are key facets of our acquisition strategy and will support the continued impressive growth of the group.”
Oliver Dennis, CEO of Fishawack, commented:
“Medical communications in the UK is based around an axis that connects Manchester to Oxford to London to Brighton. Being present in those areas puts you within reach of 75% of all experienced medical communications professionals. Brighton is a great place for Fishawack to be. I’d like to thank our investor, Growth Capital Partners, for their continued support as we have completed three acquisitions in just over a year.”
Gail Flockhart, Group Managing Director, added:
“Whenever we acquire a new business, we are focussed on the reputation of the team, team fit with Fishawack, and great client relationships. We’ve been collaborating with Facilitate for the past 6 months and have a clear plan for supporting them with additional resource. Facilitate joining the Group brings our global team to over 240 staff, a significant size for an independent organisation in the medical communications sector.”