Cambridge-based medtech device developers, Springboard, have been acquired by global healthcare packaging and medical device manufacturers, Sanner Group.
Prism Corporate Broking helped facilitate the sale of medtech device design and development consultancy, Springboard Pro Ltd, to leading global healthcare packaging and medical device manufacturers, Sanner GmbH (Sanner Group), a company backed by Europe’s leading healthcare specialist private equity investor, GHO Capital.
Springboard, founded in 2013, specialise in developing devices from initial concept through to manufacture for regulated markets such as medical, drug delivery and biotech.
Its team of engineers and scientists provide extensive capabilities including engineering, physics, electronics, software, design and materials science, driven by a passion for solving difficult technical challenges and developing successful products for use around the world.
Sanner Group is a leading global developer and manufacturer of healthcare devices and packaging for the pharmaceutical and nutraceutical industries. It is headquartered in Germany, with manufacturing facilities across Germany, France, Hungary and China.
It supplies products to more than 150 countries globally and has more than 600 employees. The acquisition of Springboard will substantially boost Sanner Group’s in-house medical device development capabilities and see the establishment of a new Design Centre of Excellence in the UK.
The deal was arranged through Prism Corporate Broking, also located near Cambridge, which has helped buy and sell businesses for 20 years, with particular expertise in the tech sector.
Following several direct approaches from potential acquirers, Prism was taken onboard to advise Springboard’s owners, helping them evaluate each approach in detail and identify the best buyer.
Prism guided them through the rest of the sale process, including negotiation of terms and management of due diligence.
Tom Oakley, co-founder and Director of Springboard, says “We joined one of Prism’s webinars and were very impressed with their knowledge and professionalism. While considering what route to take the business we were contacted by a number of interested buyers. Prism helped us with negotiations and reaching a successful completion. We are excited to join Sanner Group.”
Peter Watson, Managing Director of Prism, says “Springboard’s co-founders Tom Oakley and Keith Turner have developed an outstanding business, with at its heart a highly skilled team backed by a strong ethos. The strategic and cultural fit with Sanner is excellent. We are delighted to have helped them through the sale and know that the business will thrive as part of the Sanner Group.”
Springboard was also advised by Rob Southgate at Integrity Tax and Inger Anson at HCR Legal LLP (Cambridge).