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Clearwater International advises on recapitalisation of pharmaceutical services provider CHASE

Clearwater International has advised the shareholders of Chase Search and Selection Limited (CHASE) on its recapitalisation with investment provided by Vespa Capital.

The business, established in 1998 by Chris and Judy Phillips, started life as a permanent recruitment agency serving the pharmaceutical sector. Today, CHASE is the largest independent recruitment and contract sales organisation (CSO) in the UK providing specialist nursing and sales and marketing personnel to pharmaceutical, biotech and healthcare customers.
Vespa will support CHASE’s continued development; with investment in existing and new personnel and systems to promote further growth. It will also assist the company in its ambitions to deliver more solutions to the pharmaceutical, biotech and healthcare sectors.
Clearwater International’s team was led by head of business services Marcus Archer with support from directors Wes Fell-Smith and head of healthcare Ramesh Jassal and associates Daniel Rossington and Sophie Davidson.
Chris Phillips, chairman of CHASE, says: “Clearwater introduced the right partner for CHASE in Vespa Capital who hold similar beliefs, business practices and ethics. The investment by Vespa Capital has enabled CHASE to incentivise key personnel moving forward and will allow us to accelerate our growth by investing into adjacent products and services. Additionally, CHASE will maintain its current quality offering which differentiates us from other CSOs.”
Matt Lyons, partner at Vespa Capital, says: “Throughout the process, the Clearwater International team were first class. We are delighted to become CHASE’s selected partner for the next phase of the company’s growth.”
Ramesh Jassal, head of healthcare, Clearwater International, adds: “CHASE is one of the few remaining high quality businesses, of scale, in the UK with expertise in recruitment and CSO services to the pharmaceutical sector. It can build bespoke flexible sales teams to access the primary and secondary care market, providing a better return for pharma companies who are desperate to maintain their product market share in the UK, in a highly competitive and consolidating pharma market.”

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