Springboard is delighted to announce that it advised a significant shareholder on the sale of East Midlands based pharmacy chain W R Evans.
About the deal
WR Evans (Chemist) Limited is the leading chain of independent community pharmacies in the East Midlands. It operates 64 branches across the Midlands under the Manor Pharmacy and Cox and Robinson brands. It also has a strong online presence operating the Vet-Medic and Travelpharm brands. Following the sale to PCT Healthcare, it is intended that 10 of the WR Evans stores will be transferred to a new company owned and operated under the Manor Pharmacy name by David Evans.
Springboard Partner Simon Ward and Assistant Director James Bailey advised David Evans in relation to the retained stores. Commenting on the deal, Simon said “This was a complex process. We worked with David to deliver a commercial solution that met his objectives and those of his fellow shareholders. We wish David well as he continues the long term tradition of his family’s involvement in the pharmacy market.”
How we made a difference
- Presented a range of options for our client whose objectives differed from his fellow shareholders;
- Negotiated a complex commercial deal including a de-merger and ongoing transitional /supply arrangements; and
- Project managed delivery of the deal working closely with advisors to both other sellers and the acquiror.
The sale of my business was a complex process. Springboard worked alongside me to devise a deal structure that enabled me to meet my personal objectives. They provided counsel at all stages to ensure my interests were recognised and protected. Their knowledgable and balanced approach was invaluable throughout the process.