A manufacturer of medical devices for spinal disorders has been acquired by a US group in a deal supported by prominent advisers.
The SpineCorporation, which is based in Chesterfield, is a specialist manufacturer of spinal orthotics for children and adults.
Hawsons Corporate Finance and Knights Solicitors advised the shareholders on the company’s sale to US-based OrthoPediatrics Corp.
Andrew Mills, shareholder of SpineCorporation, said: “Selling the business is a significant milestone and an important moment for everyone who has been part of its journey. We are incredibly proud of what the team has achieved over the years, and we are excited about the opportunities that lie ahead as part of OrthoPediatrics.
“Throughout the transaction, the support and guidance we received from Hawsons and Knights was invaluable. Their experience, clear advice and collaborative approach gave us confidence at every stage of the process and helped us achieve a successful outcome.”
The transaction was led by Jack Ware, corporate finance director at Hawsons, who advised the shareholders throughout the sale process. The deal team consisted of Ellie Wilcockson (corporate finance executive) and Katie Sutcliffe (corporate finance analyst), as well as specialist tax advice from Stephen Charles and Ben Aris from Hawsons’ transaction tax team.
Ware said: “It has been a pleasure to advise Andrew on the sale of SpineCorporation. The business is a longstanding client of our specialist healthcare team, so we have enjoyed supporting its growth over many years.
“International buyers continue to be active in the healthcare sector and we are increasingly advising clients on cross-border transactions. Having acted on a number of sales to US acquirers, we were well placed to support the shareholders throughout the process and help achieve a successful outcome.
“We wish Andrew and the wider SpineCorporation team every success as they embark on this exciting new chapter with OrthoPediatrics.”
Legal advisers to the sellers were Russ Bainbridge and Molly Rae of Knights. Chris Northway at Dentons acted as legal advisers to OrthoPediatrics Corp, with Hemal Pandit and Richard Meller from Saffery providing tax and financial due diligence support to the buyer.
Bainbridge, partner at Knights, added: “It was a pleasure to work alongside Andrew and the wider advisory team on this transaction. Cross-border acquisitions require careful planning and close collaboration between all parties, and this transaction was no exception.
“By working together throughout the process, we were able to navigate the legal complexities efficiently and help drive the deal to completion.
“We congratulate Andrew on the sale of SpineCorporation and wish the business every success as they begin their next chapter as part of the OrthoPediatrics group.”