Advised WorldOne on a $25m investment by Kennet Partners to support its global expansion
2011
Transaction Summary
Advised WorldOne, a high-growth provider of data collection services to the healthcare industry, on a $25m investment by Kennet Partners to support its global expansion.
Background
- WorldOne delivers global services to its customers in the healthcare market research sector, delivering access to the worldwide healthcare community. Since its establishment in London in 2000, WorldOne has developed a panel of 500,000 physicians and 200,000 healthcare professionals enabling the company to deliver large-scale projects in 80 countries. In 2010, WorldOne completed over 300,000 interviews with medical professionals for almost 2,000 market research projects
- Kennet Partners invested $25 million in WorldOne. The financing will be used to accelerate WorldOne’s global expansion and to fund continued development of new business lines as well as enabling some of the founding shareholders to realize a proportion of their equity
- Kennet is a leading international growth equity firm that invests in companies in Europe and North America
- Strata was exclusive financial adviser to WorldOne on this transaction
Transaction Highlights
Key features of how Strata ran the process included:
- Informal introductions to high quality growth equity firms in advance to the process
- Built an investment case (including drafting the management presentations) and detailed financial model
- Approached key US and European investors: term sheets received from three US funds and one European fund
- Organised and collated information needed for data room
- Identified potential weaknesses to investors in advance (no pre-empts)
- Strata modelled each offer “side by side” – this enabled WorldOne’s shareholders to understand the terms on offer clearly and enabled us to leverage one investor on other to extract the best possible terms for our client