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.