Sectors Healthcare and Education
Location Buckinghamshire, UK
Date of exit July 2014
Investment status Realised
Return 2.8x; Secondary buyout

Phlexglobal

The company

Phlexglobal – The TMF Experts, are pioneers in the provision of innovative, flexible and technology-enabled TMF solutions & services to the pharmaceutical, biotechnology, medical device and healthcare industries.

Established in 1997, the company offers a support service for all administrative and operational aspects of the clinical trial process. It employs c.200 people in the UK and US, and counts a significant majority of the top 20 global pharmaceutical companies among its clients.

Phlexglobal’s main area of expertise is in the management of Trial Master File (TMF) projects. A TMF is the collection of all essential documents required to demonstrate compliance with the regulatory requirements for clinical trials. In 2006, Phlexglobal developed its own electronic system, PhlexEview, which, combined with the related business processes of scanning and archiving, is now the principal solution of the business.

Growth strategy

Phlexglobal’s management team was keen to expand the business internationally in support of their global pharmaceutical clients.

The Inflexion difference

Inflexion’s original investment facilitated the founder transitioning out of the business and provided an opportunity to strengthen the leadership team with the appointment of a CEO and CTO. Working closely with Inflexion, the management team has rapidly expanded its international operations, opening a new office in the US to target major North American pharma clients. Phlexglobal was also able to accelerate investment in its core technology platform and its service provision establishing it as the clear market leader.

Stella Donoghue, CEO at Phlexglobal said “Inflexion has been a highly supportive investor. The management team have been able to make investments in our people and technology to grow our business. We have enjoyed working with Inflexion in the UK and utilising their wider team to assess the international opportunities in India and Asia Pacific. Together we have built a business that we are very proud of.”

Inflexion has realised a return of 2.8x on its original investment from a secondary buyout to Bridgepoint Development Capital.

The sale process was led by Richard Swann and Edward Fraser.