International legal practice Osborne Clarke has advised the management team of Torbay Pharmaceuticals on its investment from private equity firm, NorthEdge.

NorthEdge has acquired Torbay Pharmaceuticals from the Torbay and Devon NHS Foundation Trust

Osborne Clarke's Corporate team provided legal advice to the management team of Torbay Pharmaceuticals. The team was led by partner Alisdair Livingstone, assisted by associate director Seamus McKimm and associate Matt Mayes. Associate director Nicholas Haywood advised on employment and partner David Nisbet & senior associate Bridget Baillie advised on Tax.

Torbay Pharmaceuticals, which employs 250 staff at its headquarters in Paignton, Devon, supplies healthcare and medical organisations throughout the UK and internationally. Over the last six years, it has seen rapid growth that has resulted in increasing demand for its commercial-scale sterile injectable fill/finish capabilities.

NorthEdge’s investment will see Torbay strengthen its capabilities and significantly expand its reach in North America, while continuing to grow and invest in its team to enable greater automation of inspection and packaging processes and the strengthening of its plastic vial capabilities.

Emma Rooth, CEO of Torbay Pharmaceuticals, said: "Osborne Clarke delivered a sense of calm throughout the transaction. We were provided with clear explanations free of legal jargon and hand holding when necessary. We felt like we were working with advisors who understood the key issues and always found the right solutions".

NorthEdge is a private equity firm owned and built by its senior team. The firm backs entrepreneurial and ambitious management teams in the Technology, Healthcare, Business Services and Specialised Industrials sectors and has a strong track record of supporting regional businesses reach to their potential, while placing an emphasis on responsible investing.

Osborne Clarke’s corporate team is a go-to practice for companies in the pharmaceutical and life sciences sector, working with clients ranging from global businesses to fast-growth start-ups and market challengers. The team advises at every stage of company development across all corporate issues, from equity and debt fundraisings to M&A, IPOs and JVs.

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