Kartesia, a European provider of capital solutions for small and mid-sized companies, has provided a financing solution to mid-market private equity firm Sovereign Capital Partners (Sovereign) for two bolt-on acquisitions for its portfolio company, Bioscript.
Founded in 2005 and based in Macclesfield, Bioscript is an independent agency offering medical communications, strategic consultancy, regulatory communications and health economics and outcomes research to top-50 global pharmaceutical, biotechnology and medical device companies. The company primarily utilises its base of experienced and qualified staff to provide high quality writing and other outsourced services to the end client.
Kartesia’s GBP20 million credit facility will support Sovereign with the acquisition of both Fortis and Valid Insight, which will enhance the combined Group’s breadth and depth of services, client diversification profile and improve access to other growing market areas. The transaction was funded from Kartesia’s Senior Opportunities I (KSO I) fund, which has now made nine investments in the UK market in the last 12 months. The deal team at Kartesia comprised Nick Holman and Karan Patole.
The investment also marks Kartesia’s first transaction with Sovereign, a highly active and respected UK mid-market sponsor with a proven track record in the acquisition, support, and growth of resilient and innovative companies like Bioscript.
Nick Holman, Director at Kartesia, says: “We are excited to complete our first deal with Sovereign and to support Bioscript, a high-quality and growing business, with its buy-and-build ambitions. The acquisitions will give Bioscript the platform from which to diversify its already impressive customer profile and capture high-growth market areas. We are delighted to announce our ninth transaction in the UK from our KSO I fund, further exhibiting the flexible, but selective, approach that Kartesia can adopt with this strategy, as well as the strength of our origination capabilities.”