For any founder or business owner, considering a sale isn’t an easy decision. It raises questions such as, how will the team fair without me? How can I ensure that they are set up to thrive?
The sale of a business is a fundamentally human process, filled with emotion and often many surprises.
For Allan Spork, founder of Danish MedTech consultancy and development company Technolution, the human side of the transaction was front of mind when he began to think about selling the business he had started over 20 years before.
The ‘human’ elements of a transaction can be the difference between a deal being successful or not.
It’s all about the people
We knew that the transaction with MGS would open new pathways for Technolution and enable it to continue its mission – it was a perfect fit. But what made this deal both unique and relatable was the importance that Allan, as a founder, placed on preserving the culture and talent that had been forged.
Much of Technolution’s value was in its people. From the outset, it was clear that any sale did not impact Technolution’s ability to retain and continue growing its core talent. For Allan, it was about ensuring that the people came first and that they would be looked after and nurtured for the long term by the new owners.
The transaction was, therefore, a fine balancing act, but one that needed to take these human and cultural elements into account. After inviting the team out to Copenhagen to consider and discuss these questions, as well as providing the time to reflect and deliberate, we were able to advise on a deal structure that worked.
We worked with all parties to ensure all employees and partners were looked after and keen to remain committed to the company, even after the transaction had taken place.
Finding the right buyer and partner to continue transforming an entire industry, but also the importance of the ‘human’ elements of a transaction, which can be the difference between a deal being successful or not.
Years in the making
Technolution began with a simple wish to become an expert in transforming ideas into innovative healthcare solutions, as well as fostering a reputation of trust, integrity, and professionalism in the pharmaceutical and medical technology arenas.
With a background in mechanical engineering, Allan pioneered the development of the injection device space in the 80s and drove Technolution to be one of the primary players in the MedTech development industry.
After two decades of building the business, Allan reached the point where he felt that it was time for him to step out of the business.
Combining forces
We saw the potential in Technolution and what Allan had built straight away. Its reputation was unrivalled, and all it needed was the right buyer to continue its mission to continue to improve the industry.
This is where MGS came in. A global medical device contract manufacturer for the healthcare and pharma markets, MGS operates from 16 locations around the world. The company is recognised as a specialist in precision plastics, offering vertically integrated total solutions from a single source, providing exceptional value to its global clients.
It was clear that a partnership between Technolution and MGS would establish a unique position in the industry’s value chain, providing a seamless, one-stop-shop solution from initial design to final product delivery. By combining forces, the companies would have the tools to mitigate project risks for their clients, creating an approach that streamlined the supply chain and accelerated time-to-market for customers.
The Clearwater difference
