NW trio advise on Instem swoop

THREE North West firms advised Staffordshire-based Instem Life Science Systems on a £1.5m acquisition.

The deal for BioWisdom was Instem’s first since its flotation on AIM last October.
Manchester-based corporate finance house Rickitt Mitchell acted as lead corporate finance adviser working closely with Adrian Gare, Instem’s head of corporate development.

Turner Parkinson provided legal advice and Baker Tilly supplied tax and financial due diligence services.

Neil Mitchell, associate director at Rickitt Mitchell, said: “We acted as financial adviser to Instem’s management during the IPO five months ago, and we are delighted to have been involved in an important and timely acquisition that significantly enhances the company’s suite of products.”

Newly-appointed corporate partner James Sheridan led a team at Turner Parkinson, working with lawyers Nicky Davies and David Hayes.

He said: “Having advised Instem on its IPO in Autumn 2010, it was great to work with the company again on its first acquisition as a public company and play a part in its continued growth plans.”

Instem is a leading supplier of IT solutions to the early development healthcare market and has more than 80 customers worldwide.