Primal Pictures Limited



Transaction type Private M&A

Sector Technology

Cavendish is delighted to have advised on the sale of Primal Pictures Ltd, an award-winning digital e-learning company, to Informa UK, a subsidiary of the international publishing, information and events business Informa plc.

Primal Pictures was established in 1991 with the goal of creating the only complete and medically accurate 3D model of the human anatomy. Today their 3D anatomy software is used widely by the healthcare sector and is currently used for student education and by practitioners in over 40 countries. Primal recently launched an online Anatomy & Physiology learning resource which is revolutionizing medical education methodology. In the past 12 months, Primal Pictures has won the British Medical Association’s annual prize for the best digital resource, and the Queen’s Award for Enterprise: Innovation 2012, the highest official award that a British business can achieve.

Informa UK is part of the Informa Group, a Switzerland headquartered business which is listed on the London Stock Exchange. Informa provides academics, businesses and individuals with unparalleled knowledge, up-to-the minute information and highly specialist skills and services. It employs 8,000 people in some 150 offices in over 40 countries. Its business includes Datamonitor, Lloyds List, Euroforum and Taylor and Francis brands.

Peter Gray, partner at Cavendish commented:

“We are pleased to have produced an outstanding result for the Primal shareholders. Primal Pictures is a first class business and with digital education generating significant M&A interest we were able to achieve very attractive multiples for the company – 2.9x sales and 16.1x EBIT.

Meet the deal team

  • John Farrugia

    John Farrugia


    +44 (0) 20 7908 6033

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