Build a new biomaterials platform

Kinsella Group had been retained by a major private equity group client to energize the creation and development of a new biomaterials platform. The concept was to build a significant contract manufacturer of implantable polymeric coatings and textiles. The client had already conducted several exploratory conversations with targets identified internally but progress had stalled.

The Kinsella Group approach

Our process began with a series of discussions with the client to tease out what attributes had interested them in the targets already contacted along with intentional challenges of possible technologies not explored. Like most initial concepts, the potential range is daunting and unmanageable. In addition, our early work adds to the complexity as the client begins to appreciate adjacencies not previously considered. This forces the early task of limitation and focus.

Having expanded and then refocused the criteria, Kinsella Group created a prospect list which was vetted in detail until a working list of primary targets was actioned. The challenge then was to attract the attention of the target ownership to engage in a discussion, a situation in which there is a plethora of competition from countless interested acquirers. Kinsella Group was able to secure access due to our industry-focused, extensive personal networks, and experiences to which CEO’s can relate. In this case, talking as a former CEO of a biomaterials business enabled us to communicate where others failed.

Beyond listening

As often happens, one candidate on this list was demoted in priority, apparently not possessing the desired level of attributes. This had been determined from information available from websites and directories, which did not indicate the full scale of its capabilities and was based in a location not often associated with implantable biomaterials.

The Kinsella Group team pursued investigations further with the target, who was typical of enterprises which had not identified themselves as ready for sale. After twelve months of conversation, the target decided to entertain offers of interest and authored a teaser, which confirmed our suspicions that their products and customer base were very much applicable to the client’s focused remit.

On reviewing the information supplied, the client immediately re-prioritized the target and ultimately acquired the company.

About the Author

David Brooks has held several senior executive leadership positions in the orthopaedic, healthcare, scientific instrument, and automotive industries. Based in the U.K., his roles have been oriented towards global markets and has extensive direct experience working and operating across Europe, Asia,  and the Americas.

Most recently, Mr. Brooks was President of Medplast International, prior to its acquisition by Viant Medical. He assumed that position following Medplast’s acquisition of Orthoplastics Ltd, where he was CEO. Mr. Brooks drove Orthoplastics’ global sales initiatives directly, forming strong supplier relationships with all the major orthopaedic OEMs alongside numerous challenger companies on five continents. He also had full P&L responsibility.