Gambit Corporate Finance

All News

Gambit advises Chromogenex on raising funding from a US medical technology investor

17 November 2014

Gambit Corporate Finance LLP has advised Chromogenex Holdings Limited, the leading developer and manufacturer of laser and intense pulse light systems, on its development capital fund-raising. Funding for the transaction was provided by Squadron Capital LLC, a US investment vehicle headquartered in Connecticut and funded by a Chicago-based trust.

Gambit, in partnership with US firm P&M Corporate Finance, originated the transaction and sourced Squadron Capital - a US based specialist medical technology investor. The transaction also saw an exit for Finance Wales Investments which backed the management buy-out of Chromogenex in 2011, when Gambit acted for the company.

Since its establishment in 1986 Chromogenex has been at the forefront of laser and light technology for aesthetic, non-invasive procedures, applying ground breaking innovation for the treatment of a wide range of conditions including vascular and pigmented lesions, psoriasis and acne as well as permanent hair removal, skin rejuvenation and fat reduction.

Chromogenex has an established presence in key markets of US, Brazil, South Africa, Asia with significant opportunities to extend this to other strategic markets including Russia, Germany, India and China.

Gambit’s team, which has extensive credentials in both the life sciences and medical technology sector and private equity transactions, was led by Geraint Rowe and Simon Marsden.

Geraint Rowe, Partner at Gambit, commented, “We are delighted to have advised Chromogenex on its fundraising which provides the funding for the business to execute the next stage in its strategic plan. The backing of Squadron Capital, combined with the management team’s track record in delivering technologically differentiated products will enable the company to consolidate its position as a leading independent player in its market. This transaction emphasises our credentials and capabilities in being able to provide a truly global service to our clients.”

Simon Marsden, Director of Gambit, added, “Chromogenex is an excellent business with a world-leading portfolio of products and an excellent management team.  We are extremely proud to have been involved with the company for a number of years through a number of key milestones in its journey to becoming a genuinely global player in its market.”

Peter McGuinness, Chromogenex’s CEO, commented “We are delighted to have completed this deal and to welcome Squadron on board to create a strong consolidated shareholder base and provide the funding to support our ambitious growth plans for the business. Gambit has done an excellent job in securing and negotiating the funding in challenging circumstances. We can now look forward to our next phase of development with confidence.”