inVentiv closes $3.8bn private equity transaction

By Melissa Fassbender contact

- Last updated on GMT

(Image: iStock/shironosov)
(Image: iStock/shironosov)

Related tags: Private equity firm, Private equity, Venture capital

inVentiv Health announced last week that it has closed its previously announced transaction agreement with the private equity firm, Advent International.

Advent joins Thomas H. Lee Partners, L.P.  as an equal equity owner of inVentiv, valuing the company at $3.8bn on a cash-free, debt-free basis.

Michael Bell, Chairman and CEO of inVentiv Health, explained the backing from both private equity firms has “enhanced” the company’s resources and allowed it to continue its growth plans.  

By leveraging Advent and THL’s deep operational and sector-specific expertise, we’ll continue to evolve our comprehensive clinical and commercial service offerings​,” he said in the company’s press release. “Our purpose is to accelerate the development and delivery of therapies for our global biopharmaceutical client base​.”

inVentiv is not providing any additional comment on the transaction at this time.

John Maldonado, a Managing Director at Advent said the firm is committed to providing the company with the “tools, resources and best practices that will enable inVentiv Health to achieve continued success.​”

Since its initial investment, Joshua Nelson, Managing Director of THL, explained inVentiv has experienced significant growth.

According to the company, under THL’s ownership, inVentiv Health more than doubled both revenue and adjusted EBITDA to $2.2bn and $343m, respectively.

Private equity in clinical research

While inVentiv had previously planned to launch an IPO in August of this year, the company canceled​ after receiving the investment from Advent.

The investment from private equity is one of serveral over the last year, most recently with Metalmark Capital's investment in Premier Research​.

As Outsourcing-Pharma.com reported at the time, the New York-based private equity firm is a "like-minded strategic partner with a long-term investment horizon​."

Additionally, in August of this year​, the international private equity firm, Cinven, announced its plans to purchase BioClinica - marking the company's latest in a series of purchases, including Medpace in April 2014.

Related topics: Clinical Development

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