Phlexglobal is sold for £42m

Michael Bow
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BRIDGEPOINT Development Capital yesterday bought a London-based pharmaceutical services company named Phlexglobal for £42m.

The group, which is the smaller arm of private equity group Bridgepoint, has agreed to take on Phlexglobal from seller Inflexion.

Phlexglobal makes software which supports clinical trials in the pharma sector. The group has revenue of £15.3m and operating earnings of about £4.5m.