Flourish Research has announced a strategic majority investment from San Francisco, California-based Genstar Capital.
Based in New York City, Flourish Research is a fully integrated clinical trial organization in North America. The company has sites throughout Alabama, California, Florida, Illinois, North Carolina, Pennsylvania and Texas. Flourish’s network of 24 sites and 150 investigators conducts studies spanning all phases of clinical trial research. Flourish Research was formed in 2021 by New York-based private equity firm NMS Capital.
Genstar Capital is a private equity investment firm that makes leveraged investments in middle-market companies. Genstar has approximately $49 billion of assets under management and targets investments focused on targeted segments of the financial services, healthcare, industrials and software industries.
Jefferies LLC served as lead financial advisor and McDermott Will & Emery provided legal counsel to Flourish. Cantor Fitzgerald & Co. also served as financial advisor to Flourish. Houlihan Lokey served as financial advisor and Ropes & Gray LLP provided legal counsel to Genstar. Financial terms of the deal were not disclosed.
This investment comes just a few months after Flourish Research partnered with ENCORE Research Group in June 2024.
According to data captured in the LevinPro HC database, this acquisition represents the 23rd clinical trial deal of 2024. There were 42 clinical trial transactions announced during 2023, and 30 announced during 2022.
