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Vitruvian acquires majority shareholding in Phlexglobal from Bridgepoint

Overview

Travers Smith LLP has advised longstanding client Bridgepoint Development Capital ("BDC") and management on the sale of Phlexglobal to Vitruvian Partners ("Vitruvian").

Phlexglobal is a world-renowned specialist and thought leader in the provision of electronic Trial Master File (eTMF) solutions for global clinical trials. With approximately 70 active clients, including 26 of the top 50 pharmaceutical companies, Phlexglobal is recognised as the predominant global TMF specialist in the market.

Travers Smith acted for BDC on its original investment in Phlexglobal in 2014 and has acted for the company during the period of the investment. Phlexglobal has enjoyed significant growth under BDC's ownership, extending its customer and operational base and relaunching PhlexEview, its eTMF platform.

The Travers Smith team was led by head of private equity Paul Dolman with support from senior private equity associate Joanna Roberts and private equity associates Lauren Causon and Max Conway. Finance advice was provided by head of finance Matthew Ayre and associate Tom Maclean. Specialist tax advice was provided by partner Simon Skinner and associate Camilla Southall.

Vitruvian were advised by Kirkland & Ellis LLP. Management were also advised by Shoosmiths LLP.