PwC, the leading professional services firm, has provided financial, tax and commercial due diligence, in addition to SPA, to Graphite Capital, the mid-market private equity firm, in its acquisition of Random42 from Vespa Capital.
Random42 is one of the largest medical animation producers providing high-quality medical animation and digital media services to the healthcare and pharmaceutical industry. It has expertise in 2D and 3D animation, Virtual and Augmented Reality production, interactive services and mobile application development. Winner of more than 150 industry awards, Random42 has worked with 22 of the top 25 global pharmaceutical companies, including Novartis, Roche, Merck, Sanofi, GSK and AstraZeneca who value the unique combination of scientific expertise, creative skills, consistent delivery and high-quality output that it provides.
The PwC buy side financial due diligence was led by Jonathan Cooper, Graeme Hurst, Ben Vening, Nick Breeze and Paddy Brown, tax due diligence and tax structuring was led by Andy Smith, Ben Smith, James Johnson and Sarah Robinson and commercial due diligence Barry Jaber and David Smith and SPA was led by Sally Graham.
Jonathan Cooper, partner at PwC said;
“This acquisition by Graphite will ensure that Random42 is well placed to increase its market share, build on its expertise and strong track record and increase its geographical footprint. We wish them every success in the future.”
Humphrey Baker, partner at Graphite Capital, commented:
“Random42 is an exciting company which leads the field in the fast-growing medical animation market. We look forward to working with Ben Ramsbottom and the team as they develop new routes to growth.”
“We greatly valued PwC’s expertise in financial, commercial, technology and tax due diligence, and tax structuring which were critical to completing the transaction within a short timeframe.”