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EQT close to deal for Certara: Reuters
Posted on Tuesday, 11 July 2017 13:55
US drug development consultancy Certara could be a target after people familiar with the matter told Reuters private equity investor EQT is nearing a deal to buy the business.
According to the sources, who did not wish to be identified as the process is confidential, the transaction could be worth about USD 850.00 million, including debt, and negotiations have reached an advanced stage.
They added that terms could be signed later this week.
Should an agreement be reached the deal will represent an exit for Arsenal Capital Partners.
None of the parties involved have commented on the report at this time.
Arsenal Capital Partners has owned Certara since December 2013, when it paid an undisclosed sum to purchase the business from Vector Capital Management.
The target, which employs over 400 people at 19 offices on four continents, describes itself as the leading provider of decision support technology and consulting services for improving both drug development and health outcomes.
It partners with some 1,200 commercial businesses, 250 academic institutions and various regulatory agencies globally.
According to Zephyr, the M&A database published by Bureau van Dijk, there have been six deals involving private equity investors buying into scientific and technical consulting companies announced worldwide during 2017 to date.
Only one of these transactions has a disclosed value; that was a USD 14.15 million funding round by Japanese embedded flash memory intellectual property licensing services provider Floadia from Fortune Venture Capital Corporation, Innovation Network Corporation of Japan, Daiwa Corporate Investment.
Others in the sector to have been targeted by private equity firms in the year to date include Swiss chemistry, manufacturing and control consultancy Cilatus BioPharma and Canadian digital and telecommunications end-to-end network management consultancy Commerx.
© Zephus Ltd