A Macclesfield medical communications and regulatory writing agency has secured a "significant investment" from a private equity firm which used to own Britain's leading rock music college whose alumni include George Ezra, James Bay and Tom Odell.
Bioscript was established in 2005 and is an international provider of medical communications and regulatory writing services for pharmaceutical companies and has a near 100-strong team.
Sovereign Capital Partners has backed the management team led by Andrew Medley, founder and chief executive, and Jill Harrison, executive director.
As part of the deal, Chris Brinsmead joins the team as non-executive chair.
Sovereign Capital Partners sold the British and Irish Modern Music Institute (BIMM), which has five colleges in the º£½ÇÊÓƵ as well as sites in Dublin, Berlin and Hamburg, in 2020.
Dominic Dalli, managing partner at Sovereign, said: "We have followed Bioscript for more than seven years and are delighted to be backing this highly skilled team as they look to the future.
"The market offers real opportunity, and the team are keen to build a significantly larger business in the º£½ÇÊÓƵ and internationally.
"We look forward to bringing both our strategic investment and partnership approach."
Mr Medley added: "We are very pleased to have found an investment partner that shares our ambitions for the business, in what is a highly interesting and evolving market.
"We have always prided ourselves on delivering a consistently high-quality service to our clients.
"With Sovereign’s support, we are looking forward to creating new opportunities to develop our services and expand our geographic reach, to further enhance our client experience."
Sovereign's deal team included Dominic Dalli, David Myers, Trevor Stokes, Charlie Rossetti, Nate Janks, and Jess Burgess.
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The firm was advised on legal due diligence and legals by Lizzy Tindall, Sam Jones and Lee Malam at Eversheds while financial and tax due diligence was completed by KPMG's Simon Wormald, Damian Boardman and Bradley Keast.
Transaction structuring was done by Alvarez & Marsal's Dafydd Williams and Hugo Keane and insurance due diligence was looked after by Vista Insurance's Peter Warburton and Jamie Oliver.
The firm's strategic advisor was David Sanders at Results International.
The advisors to Bioscript's management on legal matters were Addleshaw Goddard's Duncan Wilson and George Danczak and Hurst's Nigel Barratt and Lauren Roberts on corporate finance.
Ms Roberts said: "Bioscript is a fantastic business and it’s been a pleasure to work with the management team and advise them through this transaction.
"The investment by Sovereign Capital Partners will enable the business to embark on its next phase of growth and we wish everyone involved great success in the future."
