Comprehensive M&A data with integrated detailed company information

Permira to acquire Quotient
Posted on Thursday, 18 July 2019 13:51
Private equity firm Permira Funds signed a definitive agreement to acquire a majority stake in Quotient Sciences one day after Bloomberg reported a deal was close and worth around GBP 600.00 million.

The two companies decided not to disclose the price of the deal or give any indication as to when it will complete.

Permira did say it was buying the holding from GHO Capital, among other investors, to fuel the next stage of growth for the target, which will continue to be led by chief executive Mark Egerton and the current management team.

Quotient is a pharmaceutical development, clinical and commercial manufacturing organisation, which uses its Translational Pharmaceutics platform to accelerate timelines, reduce costs and drive research and development productivity.

According to the announcement, the business has experienced substantial growth in recent years, achieving annual revenue of about GBP 100.00 million.

Yesterday, Bloomberg cited people with knowledge of the situation as saying Permira was in advanced talks to acquire Quotient and a deal would be announced in the coming days.

The UK-based private equity firm has invested EUR 1.50 billion in the healthcare sector across 13 companies.

Permira is also in the process of planning a sale of healthcare technology service provider Althea Group, people close to the matter said in May.

Founded in 1990, Quotient has over 800 staff and clinical facilities in the US and the UK, including pharmacology housing over 245 beds.

In total, 919 deals targeting pharmaceutical preparation manufacturers have been announced worldwide in 2019 to date, according to Zephyr, the M&A database published by Bureau van Dijk.

Bristol-Myers Squibb buying Celgene for USD 74.00 billion and AbbVie’s USD 63.53 billion acquisition of Allergan were the largest of these by far.

Xiira assets, AstraZeneca, Bayer and Brammer Bio, among others, have also been targeted this year.

© Zephus Ltd