Sale of LCTG and SCTG to Pencarrow

Murray & Co acted as financial advisor to Lakeland Clinical Trials Group (LCTG) and Southern Clinical Trials Group (SCTG) in their concurrent partial sales to Pencarrow Private Equity.

LCTG and SCTG have each developed geographically-diversified franchise networks for the purposes of conducting clinical trials across New Zealand, testing the safety and efficacy of new medical treatments on behalf of global pharmaceutical companies. LCTG comprises six clinical trials sites across the North Island, while SCTG has six locations in Christchurch, Auckland and Nelson.

LCTG and SCTG collaborate under their Pacific Clinical Research Network alliance, and the sale transaction marketed both companies together, leveraging the greater scale of the combined businesses and their respective networks.

Post-transaction, the two businesses will be formally combined under the Pacific Clinical Research Network banner, positioning the combined business to rapidly scale its existing services to grow New Zealand’s share of the global trials industry.