New Mountain Capital (NMC) announced that it is acquiring Emmes, a contract research organization (CRO) based in Rockville, Maryland, from Behrman Capital.
Founded in 1999, New Mountain Capital is an investment firm taht manages more than $35 billion in assets. It is based in New York City with offices in San Francisco and London. During 2021, NMC raised more than $10.2 billion in private equity funding.
Emmes serves academic institutions, government agencies, non-profit organizations, foundations and biopharmaceutical companies in more than 60 countries. Emmes has more than 1,300 employees and achieved $110 million in 2021 revenue. It was founded in 1977.
This is NMC’s first healthcare acquisition of 2022. The transaction is expected to close in July. Financial terms were not disclosed. The acquisition marks the 17th CRO transaction of the year and the third CRO deal of the month, according to the LevinPro HC database. The only CRO deal with a disclosed price during June is Charles River Laboratories acquiring Explora BioLabs for $295 million in April.
