BPE Solicitors acts for DeepVerge plc in strategic takeover offer

Deep Verge

Cheltenham based BPE Solicitors has acted for Ireland-based longstanding client DeepVerge plc (formerly known as Integumen plc) on its all-equity offer for Modern Water plc.

DeepVerge’s Labskin technology platform is used by partners in artificial intelligence, clinical research, water technologies, medical devices and life sciences. Labskin is a laboratory-grown skin which allows skincare and healthcare companies, pharmaceutical manufacturers and cosmetic companies to test their products on human-like skin in a real-world environment.

DeepVerge and Modern Water have been working together since signing a production and logistics agreement in the early part of 2020, under which DeepVerge is contracted to produce test kits for Modern Water.  This collaboration identified a number of synergies between the two companies which led to DeepVerge’s decision to make a takeover offer for Modern Water.

Led by Corporate Partners, Anthony Rudge and Louise Grzasko, the BPE team advised DeepVerge on the takeover offer, working alongside SPARK Advisory Partners, the company’s nominated adviser.

BPE’s Corporate team has previously advised DeepVerge plc on a range of acquisitions and fundraisings, all designed to facilitate the company’s growth plans.

Gerard Brandon, Chief Executive Officer of DeepVerge plc said: “I’m delighted to have worked alongside the team at BPE on another acquisition in support of our business’ growth objectives.”

Anthony added: “We are pleased to have advised DeepVerge on this strategic takeover.  We have advised the company for more than four years now, on a number of fundraisings and acquisitions and we are happy to be able to support their success story.”