Apposite Capital acquires 1Med

The deal is the first investment from the GP's third fund, which expects to hold a final close in autumn 2021, a source close to the situation told Unquote. The GP's predecessor vehicle, Apposite Healthcare Fund II, closed on £144.5m in June 2018 and made equity investments of £10-20m in healthcare sector businesses.

Apposite said in a statement that it intends to work alongside 1Med's management team to build up the company's service offering and to expand its geographical coverage.

Debt advisory firm FRP said in a statement that 1Med has secured a stretched senior financing package to support the acquisition, as well as to back the buy-and-build strategy

Company
Founded in 2014 and headquartered in Agno, 1Med is a CRO that primarily serves European medical device and pharmaceutical companies. The firm provides consulting services on regulatory strategy, clinical trial management and quality assurance services, acting as an outsourced provider for product certification.

People
Apposite Capital – David Porter (founding partner); Anne-Laure Meynier (investment director); Lauren Edison, Christian Schenk (investment managers).
1Med – Enrico Perfler (founder, CEO).

Advisers
Equity – EY (tax, legal); PMSI (commercial due diligence); FRP (debt advisory); Trowers & Hamlins (legal); Baker McKenzie (legal); Aon (insurance due diligence).
Vendor – Credit Suisse (corporate finance); Fidinam & Partners (tax); Lexsential (legal); Druces (legal).

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