A specialist scientific and commercial consultancy supporting pharmaceutical and life sciences businesses has transitioned to employee ownership in a transaction advised by Initium Corporate Finance.
E-vate, founded in 2010 and based in Knutsford, Cheshire, helps its clients make smarter, evidence-based decisions.
It works closely with businesses across clinical development, translational medicine, market access and strategic communications, supporting projects such as advisory boards, steering committees, investigator meetings, insight generation, development and biomarker strategy and development planning.
The establishment of an employee ownership trust (EOT) secures the long-term independence of the company.
E-vate’s existing shareholders will retain a minority stake and remain involved in the business.
Chris Harrison, director of E-vate, said: “This is a significant and exciting moment for E-vate.
“Our success has always come from the quality of our people, the strength of our scientific thinking and the trusted relationships we build with clients.
“Transitioning to an EOT allows us to protect the culture and independence that matter so much to us, while ensuring our employees share in the long-term success of the business.
“We believe this gives E-vate a strong platform for the future and reinforces what clients value most about working with us.
“Charles Ainslie and the team at Initium provided excellent support throughout the process.
“Their advice was clear, commercial and pragmatic, and they helped us complete the transaction in a way that reflects our ambitions for the business and our people.”
Ainslie added: “We have worked closely with E-vate over time to explore strategic options, and it became clear that an Employee Ownership Trust was an excellent fit.
“It supports long-term alignment across the business while enabling the existing shareholders to retain a meaningful ongoing interest.
“It has been a pleasure to support Chris and the team on this transition, which provides a strong platform for the next phase of growth.”
Initium Corporate Finance acted as lead adviser to E-vate on the transaction, led by Charles Ainslie and supported by Jonathan Dunn.
Legal advice was provided by Jeremy Glover from Jurit Smart Counsel.
This transaction is the latest in a growing number of Employee Ownership Trust deals led by Initium Corporate Finance – including structural glass specialist Structura, audio technology pioneer CEDAR Audio, and digital creative agency The Wonderful Agency.