A Cheshire-headquartered medical communications company has been backed by a private equity firm based in Beverly Hills, California.
Prime Global has secured the undisclosed investment from Levine Leichtman Capital Partners (LLCP).
The Knutsford company recently launched new consultancies Prime Access, IRIS, and Prime Omics and completed the acquisition of Cambridge Medical Communication in May 2020.
Prime Global was founded in 1997 by chief executive and managing director Graeme Peterson. It comprises seven agencies (Cambridge, Core, Onyx, Paragon, Prime, Scion, Spark), four consultancies (IRIS, Prime Access, Only Oncology, and Prime Omics), as well as group-level teams for creative, strategy and digital.
The company employs over 250 people, with offices in London, Knutsford, Macclesfield, Brighton, Oxford and Cambridge as well as in the US in New York and San Francisco plus satellite locations in San Diego, Germany, and New Zealand.
Mr Peterson said: "Prime Global is committed to helping our clients transform global health and patient outcomes, now and for future generations.
"We were looking for a partner to share this vision and match our people-first culture, and we’ve found that in LLCP.
"Their expertise and investment will allow us to develop additional capabilities, platforms, and tools to deliver more value for our people, clients, and ultimately, patients."
LLCP was established almost 40 years ago and also has offices in Los Angeles, London, The Hague, Stockholm, New York, Chicago, Charlotte and Miami.
John O’Neill, head of Europe at LLCP, added: "We are thrilled to partner with Prime Global and look forward to supporting their continued success.
"With Prime Global’s strong leadership, ambitious strategic growth plans, and great market position, the future looks exciting."
Prime Global and its shareholders were advised by BDO LLP (M&A corporate finance and due diligence), led by Jamie Austin and Rob McCann, and Addleshaw Goddard LLP (legal), led by Paul Medlicott and George Danczak.
Mr Austin said: "This is a brilliant deal for both parties, powering Prime Global’s wonderful team and platform with funding and the international strength of LLCP.
"We are delighted to be part of the success, it is what BDO was set up to do."
Mr McCann added: "As a global business locally founded in the North West, we were delighted to advise the shareholders of Prime Global through this important transaction.
"We were thrilled to be involved in what will be a fantastic partnership for the future."
