PierCap orchestrates a $31 million sale of a Life Science Agency to a UK-listed billion-dollar giant
On Nov 26, 2019, Ireland-based UDG Healthcare plc, a FTSE 250 healthcare company, announced the acquisition of San Diego based Canale Communications, Inc. a leading independent life science strategic communications firm focused on public relations, investor relations and visual communications.
From the day we started the process, I felt like we were one team with a shared mission to find the best strategic and economic partner for my business. Zaheer and Ashish took the time to learn my business and articulate my value proposition; they diligently pursued all opportunities well beyond just the low hanging fruit; and they never missed a deadline. What’s more, they were an absolute pleasure to be around. I could not have asked for more and would recommend them to anybody.
–CARIN CANALE-THEAKSTON, CEO, CANALE COMMUNICATIONS INC.
Q: What advice would you give to other entrepreneurs or business owners considering an exit? How should they best approach and prep for it?
A: It’s important to know your priorities and stick to them throughout the deal process. Understand who you are and your value proposition to the different potential buyers – it is so important to know what’s in it for them to help drive the value of the deal. Hit the milestones, don’t miss deadlines, deliver on your expectations and keep in on task so the process can move at a good clip. You spend a lot of time with your bankers. Make sure you like them as people!
Q: Where all did you see value-add being created by PierCap throughout the M&A process?
A: As one team, they really took the time to understand and articulate our value proposition, and I also liked that PCP is industry agnostic. I think it made them look harder for potential deals without pre-conceived ideas or existing relationships on the buyer’s side.
I can honestly say they earned every penny of the fee –and I’m not very sure most sellers can usually say that about their bankers!
Q: Why did you pick PierCap?
A: I chose PCP for three primary reasons:
1) Highly experienced, great track record and small enough to really care about my deal,
2) I was told (and believed) Zaheer and Ashish would be directly involved throughout,
3) I generally liked them and enjoyed their company.
These three held true throughout the process and I would absolutely select them again.
About PierCap Partners:
We are a mergers and acquisitions (M&A) investment bank based in San Diego. M&A is our singular focus. Whether you are thinking of acquiring / selling a business, or taking some chips off the table, we run a well-disciplined process that secures best possible value, minimizes disruption and manages the delicate balance and spirit of collaboration. With over $2 billion in aggregate transaction value and 35+ years of combined experience, our leaders bring operational expertise, an owner’s perspective, and Wall Street solutions to you. Find out more about our focus, services and experience.