GCP buys Fishawack for £13m

Karin Wasteson
03 April 2013

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Growth Capital Partners (GCP) has acquired international medical communications company Fishawack for ТЃ13m.

GCP bought the company in a secondary buyout from YFM Equity Partners, which is exiting Fishawack with a 2x return on its original investment.

GCP will take a majority stake in Fishawack. This is GCP's fifth investment in nine months.

The fresh capital will fund the acquisitive growth strategy of the company as it looks to further expand internationally.

YFM invested £2.55m to back the £6m MBO of Fishawack in 2008.

Company
Fishawack was founded in 2001 by Oliver Dennis and Dominic Miller and now has more than 120 employees based in Knutsford and Abingdon in the UK, Basel in Switzerland and Philadelphia in the US.

The company provides medical communications services to 12 of the world's 20 largest global pharmaceutical companies.

Fishawack currently has revenues in excess of £10m, which have more than trebled since the original buyout in 2008.

People
Simon Jobson is a partner at GCP and will take a seat on the board. Paul Cannings is a director at YFM.

Founding directors Oliver Dennis and Dominic Miller, as well as managing director Gail Flockhart and operations director Rachel Davies, will continue to lead the business.