August-backed Code acquires Isopharm

Katharine Hidalgo
22 June 2020

Tweet
Facebook
LinkedIn
Google plus
Send to

August Equity portfolio company Code acquires Isopharm.

The two companies will be merged into a single entity. The firm acquired Code in November 2019, marking the 10th investment from August Equity Partners IV, which closed on £224m in 2017.

August was in conversation with Isopharm's management team for four years, who will stay on with the company and will retain stakes in it.

James Bakewell, an August Equity director, said: "The transaction was incredibly smooth, despite the coronavirus. Isopharm is in a very resilient market, with online training and compliance continuing through the Covid-19 outbreak. The investment is a reflection of our desire and ability as a fund to continue committing capital into sectors we know well over the coming months – both acquisitions and platform investments."

The acquisition creates market growth in the dental sector, while initiating Code's expansion into adjacent healthcare market verticals, said Christian Dube, a partner at August Equity.

Company
Isopharm is a provider of online training and other developmental activities. The business also provides software and services for validation and testing to a broad range of healthcare providers. Based in Sheffield and founded in 1999, the company employs 50 people.

People
August Equity – Christian Dubé (partner); James Bakewell (director).
Code – Sati Sian (chairman).

Advisers
Acquirer – 8Advisory (financial due diligence); PwC (commercial due diligence); Squire Paton Boggs (legal); CMS (legal).