Synexus sold for £83m
Synexus, one of the world’s largest clinical trials companies, has completed a secondary buyout for £83m.The transaction sees Lyceum Capital, which took the firm private in 2007, exit its investment in full. The deal was completed by LDC of Manchester. The transaction is subject to competition clearance in Germany and is expected to complete in March.
Synexus supports pharmaceutical R&D through phase II, III & IV clinical trials for companies including AstraZeneca, Glaxo SmithKline and Pfizer.Ged Gould, director and co-head of LDC in Manchester, said: “The pharma industry, alongside the rapidly expanding biotech sector is set for significant growth in the future driven by ageing populations and increasing R&D. This is an exciting area for investment and Synexus is leading a new generation of businesses offering expert clinical trial support that can help accelerate drug development for the benefit of patients.
“Christophe and the management team have done a fantastic job in building an international network and one of the top global players in this nascent industry in recent years and we are eager to further support the ongoing growth and help the business to break into new markets via both greenfield site openings and potential acquisition opportunities in the US, South America and Asia."Dr Christophe Berthoux, CEO of Synexus, added: “Partnering with LDC provides us with the firepower and expertise to continue the expansion of our international network, allowing us to capitalise on further opportunities in the markets in which we operate." Bluebay and HSBC provided debt facilities to support the transaction