Investment Firm New Mountain Capital Buys Contract Research Organization Emmes
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... Read More »
Private Equity Firm Astorg acquires Dutch Contract Research Organization
Astorg announced on June 20 that it acquired Avania, a global, full-service MedTech contract research organization (CRO) based in the Netherlands. Avania specializes in medical devices, technology and combination products. It was formed in March 2020 from the combination of five complementary businesses and established a platform to serve sponsors worldwide in advancing medical technology products from early development to post-market. It ensures customized, scalable solutions that optimize efficiencies and streamline the advancement of medical technology. Astorg is a global private equity firm with $15.7 billion of assets under management. Astorg partners with management teams to... Read More »
Parexel Sold in $8.5 Billion Deal
It looks like contract research organizations are still in high demand. EQT Private Equity and Goldman Sachs Asset Management Private Equity are teaming up to acquire Parexel from Pamplona Capital Management for $8.5 billion. Parexel is a leading global clinical research organization (CRO) serving sciences and biopharmaceutical clients. EQT is a purpose-driven global investment organization with more than $79 billion in assets under management across 26 active funds. Goldman Sachs Asset Management Private Equity is the primary investing area within Goldman Sachs, overseeing more than $2 trillion in assets under supervision worldwide as of March 31, 2021. This investment into Parexel will... Read More »
Thermo Fisher Bets $20 Billion on Leading CRO
The laboratory and diagnostics giant Thermo Fisher Scientific Inc. (NYSE: TMO) announced a huge deal for an international contract research organization (CRO) last week. Thermo Fisher is buying PPD, Inc. (NASDAQ: PPD), a leading CRO providing broad, integrated drug development, laboratory and lifecycle management services. Its customers include pharmaceutical, biotechnology, medical device, academic and government organizations. The company has offices in 47 countries and more than 26,000 employees. Its headquarters is based in Wilmington, North Carolina. Thermo Fisher is offering $17.4 billion for PPD, or $47.50 per share for the company, a premium of approximately... Read More »