Baird sells Prescient to BDC

Baird will continue to hold a minority interest in the company.

BDC is currently investing from its fourth-generation fund, which closed on £1.5bn in September 2020. It invests £20-100m in lower-mid-market companies with enterprise values of £30-150m.

Alantra and Edgemont Partners were given the mandate for the sale in September 2020, according to Unquote sister publication Mergermarket. The process was expected to target European and US-based investors.

In November 2020, the vendor requested another set of indicative offers from seven or eight private equity and trade bidders.

Previous funding
Baird originally invested in Prescient in 2017, acquiring a £15.5m stake in the company. The deal was the third investment to be made from the GP's Global Fund, which closed on $310m in June 2017.

Company
Founded in 2007 and headquartered in London, Prescient has additional offices in the US, India and China. The company is a provider of pharmaceutical intelligence, insights and product strategy services, and employs 200 people. The company generates $10m in EBITDA, which is expected to reach $12m in 2021, according to Mergermarket.

People
Baird Capital – Andrew Ferguson (partner).

Advisers
Vendor – Alantra Corporate Finance (corporate finance); Edgemont Partners (corporate finance); Squire Patton Boggs, Mark Yeo, Joe Abbott (legal).

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• Topics
• Buyouts
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• UK / Ireland
• Healthcare
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• Baird Capital Partners Europe Ltd
• Bridgepoint
• Alantra
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