Graphite Capital sells Random42 to The Lockwood Group
Graphite Capital, a UK mid-market private equity firm, has sold Random42, an independent producer of scientific animation and digital media services, to The Lockwood Group (‘Lockwood’).
Based in Connecticut, USA, Lockwood is an industry leader in scientific-based medical communications for the pharmaceutical, biotech and medical device industries.
Graphite led the buy-out of Random42 in 2017 and helped the company to expand the sales and marketing functions, broaden its client base and deepen client relationships. Graphite also invested in and helped optimise key operational functions within the business to provide greater scalability and worked with the company to increase its scientific capability. This culminated in the launch of its digital asset library, featuring 25,000 unique 3D files, in 2021.
Random42 produced seven animations for Covid-19 vaccines and therapeutic treatments, and its Covid-19 animation received more than two million views on YouTube.
Graphite Capital Senior Partner, Humphrey Baker said: “Random42 is a business with compelling creativity and expertise and a strong management team that has cemented the company’s position as the clear global leader in its field. It has been a pleasure to work with Ben and the team to develop the business which is well-positioned to continue to take advantage of the growth opportunities in what is a fast-growing global market.”
Ben Ramsbottom, Chief Executive of Random42, commented: “Graphite has been a very active partner in helping us develop Random42’s commercial functions, improve operational rigour and scale the business – all of which has enabled us to accelerate our organic growth. We now look forward to working with The Lockwood Group on the next leg of what we believe will be an exciting journey under their ownership.”
In addition to Humphrey Baker, Investment Executive Alex Hearne managed the transaction for Graphite.