Firm News

Mishcon de Reya advises Quotient Bioscience Group Limited on its £35 million Private Equity Fundraising from TA Associates Inc.

Release Date:

03 September 2008

Mishcon de Reya has advised existing client, Quotient Bioscience Group Limited, on its raising of approximately £35 million following an investment by US private equity firm, TA Associates Inc.

Head of Corporate Commercial Department, Richard Tyler led the team assisted by Head of Private Equity Group, Kevin McCarthy and Banking Partner, Luke Morris. Corporate Tax Partner, David Blumenthal advised on the tax aspects of the transaction.

Quotient Bioscience is the leading provider of analytical and safety evaluation services and products for bioscience and sport.

Paul Cowan, Chairman and Chief Executive Officer of Quotient Bioscience, commented, "This was a very complex transaction, involving a group reorganisation, fundraising and renegotiation of certain elements of our bank credit facilities. Mishcon de Reya coordinated all the legal aspects of this in an exemplary fashion and were a joy to work with".

Mishcon's Head of Corporate, Richard Tyler, commented, "We are delighted to be centrally involved in the ongoing investment and acquisition programme of Quotient, having been involved since the creation of the Group in January 2007."

Kevin McCarthy, commented, "This transaction provides further evidence that the UK private equity market remains active where the offering is robust. Mishcon de Reya's Private Equity Group continues to see a flow of transactions despite the tougher climate. In the mid-market certainly, if the story is right, the deal is still very much there to be done."

The Quotient Bioscience Group was also advised by Ernst & Young, McEvoy Partners as to Irish Law and Carey Olsen as to Jersey law.

Deloitte Touche and Travers Smith LLP acted for TA Associates Inc.