Norton Rose Fulbright advises syndicate of banks on Craneware plc’s equity raise in connection with its proposed acquisition of Sentry

Global law firm Norton Rose Fulbright has advised Goldman Sachs International, Peel Hunt LLP, Investec Bank plc and Joh. Berenberg, Gossler & Co. KG, London branch as joint bookrunners on the proposed placing of shares by Craneware plc to raise £140 million for its acquisition of SDS Holdco (“Sentry”).

Craneware, a market leader in solutions for the US healthcare market, has entered in to a conditional agreement to acquire Sentry for an aggregate consideration of $400 million (on a cash free / debt free basis). Sentry is a leading provider of SaaS solutions which simplify the complexity of pharmaceutical procurement and utilisation, with a customer base of over 10,000 hospitals, pharmacies and clinics, including over 600 US hospitals. The placing, which was conducted through an accelerated bookbuild process, was effected by way of a Jersey cash box structure. Craneware intends to use the proceeds of the placing to part finance the acquisition of Sentry. 

The London-based team was led by corporate partners Clementine Hogarth and Tom Vita, with assistance from senior associate Samantha Hurrell.