Deal Announcement: Clarkslegal’s corporate lawyers advise on the sale of Cryostore Limited to hVIVO plc

Clarkslegal’s corporate team is pleased to have advised Malcolm Wilkingson and the exiting shareholders on their multi-million pound sale of family-owned business, Cryostore Limited, to listed company hVIVO plc. Cryostore Limited (now part of the hVIVO group) is a dedicated storage facility for biological and clinical materials in secure temperature controlled conditions (i.e., ultra cold storage facility) and have pride themselves in providing the highest security and care of all samples.

The transaction, led by corporate partner, Stuart Mullins, was assisted by corporate lawyers Emma Docking and Jonathan Hayes, and then trainee lawyer (now qualified) Jesse Akiwumi, involved a radical turnaround (just shy of 2 week turnaround for main transactional documentation) in the sale of shares and consideration share structure within the listed company, and greatly assisted by the Company’s tax and financial advisors, Hays MacIntyre.

Delighted with the support provided, Founder, Malcolm Wilkinson commented that: “After years of building the business [Cryo-Store] from the ground up, the decision to sell was a huge one. Fortunately, as hVIVO plc have been a customer of over 20 years, the trust and relationship established over time, made the decision to integrate with them that much easier.

However, my skill set related to building and running a business, not selling one, so legal expertise was required to guide me through the business sale, negotiate on my behalf and draft the myriad number of documents that selling a business involves. With recommendations from my accountants, I reviewed several firms and felt that Clarkslegal were the firm to go with. I did not regret the decision.

Not only did they guide me through every step of the process, their professionalism, knowledge and ability to be at the end of the phone (even at weekends) set them apart from the rest, especially when having to turn the transaction around within a demandingly short two-week timeframe!

What could have been a potentially stressful and overwhelming process, was made manageable and positive and I can’t thank them enough for their support and highly recommend them to any business owner considering a sale (or a purchase).”

And from exiting shareholder, Emma Wilkinson: “I did however want to say a personal thank you for all your assistance and expert guidance throughout the Sale of CryoStore. CryoStore has been a huge part of our lives and it was important to us, that it went well for all concerned and you have played such a pivotal role, in making sure that this was achieved.”