Leading law firm Ashfords LLP has advised on the sale of Research Instruments Limited to CooperSurgical for a total cash consideration of approximately $51m.
Research Instruments, based in Falmouth, Cornwall, specialises in cutting-edge technology, consumables and hardware in the field of in-vitro fertilisation (IVF) and is a global leader in micromanipulation technology. The company, run by William Brown, Justin Retallack and David Lansdowne, has operated in the field of IVF since the early 1980s and has expanded to become the largest hardware ART (assisted reproductive technology) supplier in the world with a global network of distributors and a comprehensive product portfolio.
CooperSurgical is the women's health care division of The Cooper Companies, Inc, a NYSE listed global medical device company. CooperSurgical supplies market leading products and treatment options to women's health clinics and the acquisition of Research Instruments will strengthen CooperSurgical's IVF offering within the consumables, software and hardware areas.
The Ashfords Team was led by Corporate Partners Stuart Mathews and Andrew Betteridge and assisted by Tom Storey (Corporate), Mark Lomas (Intellectual Property), Morwenna Pestell (Real Estate), Angus Bauer (Tax), Rebecca Dury (Banking and Finance) and Charles Pallot (Employment). The sellers were also advised by Bishop Fleming and Oasis Europe.
Stuart Mathews commented: "We were delighted to represent the Research Instruments shareholders having acted for the company for a number of years. This sale is the culmination of years of hard work by William, Justin and David who together have built an outstanding global business. The deal brings together two important players in the IVF field and provides a strong strategic growth opportunity for CooperSurgical. We wish the business continued success under its new ownership."
William Brown commented: "Our thanks go to the team at Ashfords who worked tirelessly to get the deal done. The calm approach of Stuart and his team was invaluable in helping us through some complex aspects of the transaction in a very short space of time and I am glad we picked Ashfords to represent us on the sale."