As of 10 November, 2017, the PharmaLex Group, a leading specialist provider of development consulting, regulatory affairs, quality management & compliance, as well as pharmacovigilance, has completed the formal merger with TRAC Services Ltd (TRAC).
TRAC, based in Redruth, was founded in 2001 by Jonathan and Sarah Trethowan. The company offers a full suite of regulatory affairs services to the global pharmaceutical industry and works with a variety of clients from SMEs to large multinational corporations.
Sarah said “After 15 years of successfully growing our business and with the change in our market towards the use of large global suppliers we decided the best growth strategy for the business was to become part of something bigger. PharmaLex were the perfect choice and I’m delighted the merger has successfully completed.”
Jonathan said ““With a shared culture and the same commitment to quality we are confident our clients will benefit from TRAC joining the PharmaLex Group. These benefits include, but are not limited to, improved geographical reach, increased capacity and access to additional services. We are also excited about the enhanced opportunities the merger provides for the existing TRAC team.”
On completion of the merger Jonathan will be taking on the role of Vice President of EU Regulatory and Scientific Policy within the PharmaLex Group. Sarah will be leaving TRAC to continue her work within the Cornish business community.
The merger between TRAC and PharmaLex is a great advert for Cornwall and the strong businesses based here. Going forward, as part of the PharmaLex Group, TRAC is now part of an organisation with over 650 employees, and 25 offices in 14 countries and more than 600 satisfied clients worldwide.
Gavin Poole, Partner in the corporate at Stephens Scown LLP in Truro acted for TRAC in the sale. Commenting on the deal, he said:
“When a business decides to sell it is a big decision.Completing any deal represents a lot of long days, missing out on family time and stress for our clients. I understand how tough it can be, so having been able to help Jonathan and Sarah achieve the outcome they want is very rewarding for me.”
Paul Crocker, Partner at PKF Francis Clark, said:
“We are delighted to have had the opportunity to assist Jonathan and Sarah in this transaction. The PharmaLex Group is a global company who are committed to building on the strong TRAC brand to deliver further growth.”