Levine Leichtman backs Prime Global

The GP invested in the company in partnership with its management team, led by founder and CEO Graeme Peterson, who will continue to run the business.

This is the fifth investment made by the GP via Levine Leichtman Capital Partners Europe II, which closed on €463m in October 2020. The fund combines debt and equity investments, targeting various sectors, including business services, healthcare, education and engineering.

Prime Global appointed BDO to find a buyer in July 2020, according to Unquote sister publication Mergermarket. The process, which saw the business marketed based on EBITDA of €8m, attracted the interest of around 30 bidders, as reported by Mergermarket in February 2021.

Company
Founded in 1997, Prime Global is a medical communications company that provides biotech, pharmaceuticals and healthcare businesses with scientific and medical communications, consumer health, patient-integrated science, and market access.

The consultancy specialises in a range of therapy areas, such as oncology, cardiovascular disease, diabetes, metabolic disorders, the central nervous system, respiratory illness, infectious diseases, vaccines, virology, diagnostics, urology, nephrology, haematology, dermatology, gastrointestinal ailments, rare and genetic disorders, immuno-inflammation, and allergies.

Prime Global employs 250 staff across its offices in the UK (London, Knutsford, Macclesfield, Brighton, Oxford and Cambridge) and the US (New York and San Francisco). It also has teams in San Diego, Germany, and New Zealand.

The company reported EBIT of £3.1m and profit of £2.8m from revenue of £21.5m in 2019.

People
Prime Global Medical Communications – Graeme Peterson (founder, CEO).
Levine Leichtman Capital Partners – John O'Neill (head of Europe).

Advisers
Company – BDO (corporate finance); Addleshaw Goddard (legal).
Equity – Results Healthcare (corporate finance); PwC (financial due diligence); Goodwin Procter (legal); CIL (commercial due diligence).

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