Alantra advises on sale of communications consultancy 90TEN
Alantra has advised the shareholders of global healthcare communications consultancy 90TEN on the sale of the business. Envision Pharma Group, a private equity-backed provider of communication services and technology solutions, has purchased the organisation.
Founded in 2001, 90TEN is a global healthcare communications consultancy which employs around 70 staff and works with over half of the top 20 pharmaceutical companies in the world, serving clients across Europe and North America. The Battersea-based business specialises in using proven behavioural change tools to maximise brand engagement, and in 2018 it was named the UK’s fastest-growing healthcare consultancy and third fastest-growing PR consultancy overall (for consultancies with annual revenue above £3 million) by the PR Week Top 150 UK Consultancies report.
The firm’s recent success understandably drew the eye of potential buyers, and it has now been acquired by Envision Pharma Group – a global provider of evidence-based communication services and industry-leading technology solutions. The acquisition of 90TEN will bring the total number of Envision Pharma Group employees to around 800 across 14 offices and four continents. In adding 90TEN’s strengths in behavioural science, creativity, and insight-driven communications to its ranks, the acquisition will also deliver an enhanced service offering to Envision’s global client base.
David Thompson, CEO, Envision Pharma Group, commented, “90TEN will add its expertise across new verticals for the group – in corporate communications and public relations, while extending Envision’s current footprint in patient engagement and medical communications with its behavioural science methodology. This move bolsters our industry-leading scientific communications capabilities, and enables us to strengthen our offering to clients across the product life cycle.”
The merger will see 90TEN retain its brand and service offering, while bringing its insight-led behavioural science model Feel-Think-Do to a broad spectrum of Envision Pharma Group’s communications solutions. 90TEN will be managed from its London headquarters by the existing management team, including co-founders Paul Tanner and Carole North and Managing Directors Peter Impey and Alison Doughty.
Carole North, CEO, 90TEN, remarked, “We’ve always said, if we partnered with another company it would have to be one that was the right strategic and cultural fit for 90TEN, celebrating everything that is 90TEN and the people who make it so successful. Envision Pharma Group embodies all of this and will allow us to retain our individuality, culture, and entrepreneurial spirit as we continue to deliver life-changing communications.”
90TEN’s shareholders were advised on the sale of the business by consultants from Alantra. The global mid-market investment banking and asset management advisory firm was appointed due to its significant experience of working with healthcare communications businesses, identifying strategic partners and securing investment solutions. Anthony Harrington, Partner at Alantra, led the deal, supported by Director Tom Cowap and Associate Santiago San Antonio Alonso.
Harrington said, “We worked with the owners of 90TEN to explore a broad range of options that would help to accelerate their future growth… This deal reflects a number of wider trends we are seeing in the healthcare communications and consulting sector. The services provided by 90TEN are highly sought after by clients, making them attractive acquisition targets to larger strategic competitors and private equity-backed businesses like Envision Pharma Group.”
90TEN’s Chairman, Paul Tanner, added, “Anthony and the Alantra team took the time to truly understand our culture and values, and what we were looking for in a future partnership. They presented us with strategic options that would best fit 90TEN’s long-term aspirations and the needs of our team, company and clients.”
