Mills & Reeve advises on £22 million sale of woundcare and bio-diagnostics business

Mills & Reeve provided legal advice to the shareholders of Raleigh Adhesive Coatings Ltd, on its sale to Advanced Medical Solutions Group plc.

Advanced Medical Solutions Group plc (AMS), a surgical and advanced woundcare specialist company has acquired Raleigh Adhesive Coatings Limited (Raleigh), an independent woundcare and bio-diagnostics coatings business for £22 million.

Raleigh, a subsidiary of Apollo Chemicals Group Limited, offers acrylic and silicone gel contract coating for the woundcare market and is the only independent UK company to do so. They provide tailor-made solutions for its blue-chip customer base, which includes many of the major woundcare manufacturers and other specialist manufacturers and suppliers in the healthcare sector, and has a strong pipeline of innovative developments, which will ensure its continued growth as a leading player in the woundcare and bio-diagnostic sectors.

The acquisition will strengthen AMS’s position in the woundcare sector by bringing in-house specialist services of acrylic and silicone coating, perforation processing and some bulk materials converting capabilities which are currently outsourced. In addition, Raleigh’s expertise will allow the Company to enter the bio-diagnostic testing sector.

The shareholders of Raleigh were advised by Bracebridge Corporate Finance, led by Andy Moore.

Jonathan Saunders of Apollo Chemicals Group Limited said: “The transaction was very quick and turbulent but the team appointed by Peter managed us very well. From an initial offer to appointing lawyers, completing diligence, disclosure and agreeing the SPA in 4 weeks. The team certainly put the hours in, not only to get the deal over the line but also to support us during this process. The issues of Covid didn’t prove too much of an issue and in some respects made it easier, as we could jump on calls within a moment’s notice to discuss or share concerns and information.”

Peter McLintock, partner at Mills & Reeve, said: “This merger is the culmination of 25 years of work for our long-term clients, Apollo Chemicals, who created the Raleigh business and for MD, Pete Turton, who has steered the company throughout and has been instrumental to delivering this game-changing transaction. To add to that, this deal was accomplished in just over four weeks which was a huge achievement for all involved.”

“A huge thanks goes to Katharine Robinson, Tom Causer, Adam Turner, Rob Kent, Charlotte Morris and Chantel Elian as it was her first completion in her first seat as a trainee! Also to Ryan Williams who provided banking support and to Andrew Secker and Alison Williams who provided employment advice.”

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