Penningtons Manches Cooper advises shareholders of Tolley on sale to G&L Scientific Ltd
The corporate team at Penningtons Manches Cooper has advised the shareholders of Tolley on its sale to G&L Scientific Ltd.
Tolley is a specialist health economics and outcomes research consultancy that supports pharmaceutical and biotech companies through the health technology assessment (HTA) process. Founded in 2008, the company provides expert support in demonstrating the clinical and cost-effectiveness of new drugs to UK HTA bodies like the National Institute for Health and Care Excellence (NICE) for England and Wales, and the Scottish Medicines Consortium (SMC) for Scotland.
G&L Scientific is creating a group of specialist consultancies, all focused on helping life sciences companies navigate the full product lifecycle, from development and evidence generation through to regulatory approval, reimbursement, and patient access. The group’s strategy is to combine regional market access experts across Europe with strategic and operational consulting capabilities, creating an integrated service offering for international pharmaceutical, biotech, and medtech companies.
Tolley represents a strategic addition to this expanding group. Tolley is well-established in the UK and Republic of Ireland with deep market knowledge, strong client relationships, and recognised expertise in market access for rare disease medicines.
Tolley’s management team will continue to lead the business. The company’s approach and strategy will remain unchanged, but the transaction will enable Tolley to deliver additional value to its clients, through greater connectivity and integration across G&L’s specialist network.
The team advising Tolley was led by corporate partner Will Axtell, supported by managing associate Giordano Suergiu, and associates Jenny Wright and Tom Morris. The wider team included corporate tax senior associate Leonie Langley and paralegal Victoria Goldstraw, pensions partner Alison Hills, real estate senior associate Ben Madden, and employment senior associate Luke Shaw and associate Lucas Grinstead.
Mandy Strickson, co-founder of Tolley, said: “This is an exciting new chapter for Tolley as it sets the stage for building on the bespoke, high-quality work in UK health technology assessment we have delivered over the last 18 years, but with the collaboration of our new European partners under the leadership of G&L, we are excited to create a European powerhouse of market access.”
“We are deeply grateful for the exceptional guidance and dedication that Will and the Penningtons’ team (Giordano, Jenny, and Leonie) brought to our recent transaction. Their expertise, strategic insight, and attention to detail not only safeguarded our interests but also gave us the confidence to navigate each stage with clarity and assurance.
“From the earliest discussions, through due diligence, and to the final agreements, their ability to anticipate challenges, provide practical solutions, and communicate complex legal and tax matters in a clear and approachable way made a significant difference. Will was not just our legal advisor – he was a friend and trusted partner who provided us with confidence, understood our goals and worked tirelessly to help us achieve them. We highly recommend Will and the Penningtons team to our network if undergoing M&A in the future”.
Will Axtell, corporate partner at Penningtons Manches Cooper said: “We are delighted to have advised Keith and Mandy on this important transaction. This marks our third transaction involving HTA companies and further reinforces our reputation for having extensive experience in the sector. Tolley has built an exceptional platform, and we are excited to see the business continue to grow as part of the G&L Scientific Group, with enhanced opportunities for collaboration, innovation and future expansion.”