Kroll secures part sale of Pharmaserve

Kroll, the independent provider of global risk and financial advisory solutions, has completed the successful part-sale of Pharmaserve (North West) Limited to Noveayr Respiratory Services Limited.

Kroll said 58 members of staff were transferred as part of the transaction. Pharmaserve was part of a larger group which is unaffected by this process.

Established in 2007 as a contract development and manufacturing organisation with a focus on respiratory products and applications, the MHRA regulated Company had a customer base extending around the globe.

Jimmy Saunders and Michael Lennon were appointed as joint administrators of the company on 13 September 2023 following an extensive sale process. The company’s contract development business and certain assets were sold to Noveayr Respiratory Services Limited immediately upon appointment.

Jimmy Saunders, managing director, Kroll: “We are pleased to have been able to agree a partial sale of the business with such a longstanding heritage and reputation in the industry. The sale has ensured that 58 jobs from a skilled workforce are protected and will remain in the region. We wish the team at Noveayr all the best for the future.”