Knutsford medical comms company Fishawack expands with US acquisition

Medical communications group Fishawack has expanded with an acquisition in the US.

The deal will make medical comms company Carling Group, which has offices in San Diego and London, part of Knutsford-based Fishawack’s global business.

Carling Group includes full-service healthcare marketing and communications agency Carling Communications and medical education services provider MCME Global.

The value of the transaction, the first since private equity investor LDC backed Fishawack’s £38m buyout in January, remains undisclosed.

Carling Communications will be the first in Fishawack Group’s portfolio of agencies to focus entirely on healthcare marketing.

Fishawack CEO Oliver Dennis said: “The financial backing and support of our investment partner LDC is enabling us to accelerate our international growth strategy.

“Through creative agency Carling Communications we’re now able to offer clients a comprehensive healthcare marketing service for the first time, while the addition of MCME bolsters our medical education offering.”

He added: “This deal marks the seventh strategic acquisition during our 16-year history and a significant step in the expansion of our reach, capabilities and client base.”

Carling principal Didi Discar, who founded the group in 2010, commented: “This deal signals a new beginning in our offering.

“Our skills complement each other and provide synergies that will significantly benefit current and future clients, while building on our shared vision of excellence, integrity and respect. As part of the Fishawack Group we join a truly global network.”

LDC investment director Simon Braham said: “With the acquisition of the Carling Group, Fishawack has not only strengthened its foothold in the US, the largest market for the global pharmaceutical sector, but bolstered its position as one of the world’s largest full-service medical communications groups.

“This is a major milestone for Fishawack and we look forward to continuing to support the team as they deliver their growth ambitions.”

Buy-side M&A advice and financial due diligence was provided by BDO, while KPMG provided tax advice.

BDO M&A partner Ruth Percival commented: “This deal marks another step forward in Fishawack’s truly global buy and build strategy. The synergies between both groups, bolstered by LDC’s investment, marks an exciting and dynamic opportunity for the team to expand into new markets, both geographically and in areas of specialism.”

Clearwater International provided debt advice and Candesic commercial due diligence. Hill Dickinson, Foley & Lardener and Addleshaw Goddard provided legal advice.

The Carling management team was advised by San Diego-based Orricks.

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