LDC-backed Fishawack Group of Companies, a specialist provider of scientific communications services to global pharmaceutical companies, has acquired the US-based Carling Group of Companies. The transaction value has not been disclosed.
The Group includes Carling Communications, a full-service healthcare marketing and communications agency, and MCME Global, the specialist provider of medical education services. Both businesses are headquartered in San Diego.
Founded in 2010 by Didi Discar, and with offices in San Diego and London, Carling has a team of more than 100 people specialising in full-service marketing, advertising and physician communications. It supports clients across the pharmaceutical, biotechnology and medical device industries and provides specialist expertise across 35 therapeutic areas, including ophthalmology, dermatology, cardiovascular, diabetes, multiple sclerosis and pain management.
This deal marks the first acquisition Fishawack has made since mid-market private equity investor LDC backed the GBP38 million buyout of the business in January this year, with a commitment to support its buy-and-build strategy.
Carling Communications will be the first agency in the Fishawack Group to focus solely on healthcare marketing.
Simon Braham, Investment Director at LDC, says: “Over the past six months we have been working closely with Oliver and his team to implement their growth strategy. With the acquisition of the Carling Group, Fishawack has not only strengthened its foothold in the US, the largest market for the global pharmaceutical sector, but bolstered its position as one of the world’s largest full-service medical communications groups.
“This is a major milestone for Fishawack and we look forward to continuing to support the team as they deliver their growth ambitions.”
Oliver Dennis, CEO of Fishawack, adds: “The financial backing and support of our investment partner LDC is enabling us to accelerate our international growth strategy. Through creative agency Carling Communications we’re now able to offer clients a comprehensive healthcare marketing service for the first time, while the addition of MCME bolsters our medical education offering. This deal marks the seventh strategic acquisition during our 16-year history and a significant step in the expansion of our reach, capabilities and client base.”
Commenting on the deal, Didi Discar, Principal at Carling Group, adds: “This deal signals a new beginning in our offering. Our skills complement each other and provide synergies that will significantly benefit current and future clients, while building on our shared vision of excellence, integrity and respect. As part of the Fishawack Group we join a truly global network. This is not only a boost for our ability to provide expanded client support, but also for career and development opportunities for both Carling and Fishawack employees.”
