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CRF

Wednesday, 17 October 2018
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Finnish company, CRF Box Oy (“CRF”) is a leading provider of electronic Clinical Outcome Assessment (eCOA) solutions for global clinical trials.

With experience in about 550 trials, over 100 languages and across 74 countries, CRF Health's TrialMax eCOA solutions demonstrate the industry's highest data accuracy, patient and site compliance, and patient retention.

Travers Smith advised the shareholders of CRF on the sale of the company to Vitruvian Partners following an auction process involving multiple bidders. CRF is incorporated in Finland, has operations in The United States and the UK and operates around the world.  As such we were required to work alongside and co-ordinate the advice of law firms from multiple jurisdictions including the US (Pepper Hamilton), Finland (Castren & Snellman), Germany (Gleiss Lutz) and Norway (Schojdt).  CRF had a diverse shareholder base, comprising approximately 50 shareholders and option holders including institutions, founders, current and past management.

Vitruvian is an independent private equity firm which specialises in middle-market buyouts, growth buyouts and growth capital investments. Vitruvian focuses on investing in 'dynamic situations' in industries characterised by rapid growth and change, such as information technology, healthcare, media, telecoms, financial services, business services, and leisure.

"Travers Smith dealt superbly with a complex transaction covering three legal jurisdictions. The quality and pragmatism of their advice, composure and steadfastness when under fire was outstanding. CRF team were pleased to have them in our corner and we were delighted with the outcome they helped secure."

Steven Kent, Chairman of CRF

Details of the deal
Size
Confidential

Summary
Advised the shareholders of CRF on the sale of the company to Vitruvian Partners following an auction process involving multiple bidders

Jurisdictions
United States, Finland, UK, Germany and Norway

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