Clearwater International advises on the recapitalisation of pharmaceutical services provider CHASE

Clearwater International has advised the shareholders of Chase Search and Selection Limited (“CHASE”) on its recapitalisation, with investment provided by Vespa Capital.

The award winning business, established in 1998 by Chris and Judy Phillips, started life as a permanent recruitment agency serving the pharmaceutical sector. CHASE’s roots in permanent recruitment have been integral to its impressive growth in recent years as changing market dynamics have placed increasing importance on the ability to source high quality candidates quickly. Today, CHASE is the largest independent recruitment and contract sales organisation (“CSO”) in the UK providing specialist nursing and sales and marketing personnel to pharmaceutical, biotech and healthcare customers.

Vespa will support CHASE’s continued development; with investment in existing and new personnel and systems to promote further growth. They will also assist the company in its ambitions to deliver more solutions to the pharmaceutical, biotech and healthcare sectors.

Clearwater International’s team was led by head of Business Services Marcus Archer with support from directors Wes Fell-Smith and head of Healthcare Ramesh Jassal and associates Daniel Rossington and Sophie Davidson.

“Clearwater introduced the right partner for CHASE in Vespa Capital who hold similar beliefs, business practices and ethics. The investment by Vespa Capital has enabled CHASE to incentivise key personnel moving forward and will allow us to accelerate our growth by investing into adjacent products and services. Additionally, CHASE will maintain its current quality offering which differentiates us from other CSOs.”

Chris Phillips, Chairman of CHASE

“Throughout the process, the Clearwater International team were first class. We are delighted to become CHASE’s selected partner for the next phase of the company’s growth.”

Matt Lyons, Partner at Vespa Capital

“CHASE is one of the few remaining high quality businesses, of scale, in the UK with expertise in recruitment and CSO services to the pharmaceutical sector. It can build bespoke flexible sales teams to access the primary and secondary care market, providing a better return for pharma companies who are desperate to maintain their product market share in the UK, in a highly competitive and consolidating pharma market.”

Ramesh Jassal, Head of Healthcare, Clearwater International

“We are delighted to have worked with Chris and Judy to find them a great partner in Vespa Capital. This is a fantastic opportunity for CHASE to accelerate their growth and Clearwater look forward to working with the team at CHASE and Vespa Capital as they continue the business’ evolution.”

Marcus Archer, Head of Business Services at Clearwater International