Pharm-Olam nabs PE investment amid 'market void' for mid-tier CROs

By Melissa Fassbender contact

- Last updated on GMT

Pharm-Olam nabs PE investment amid ‘market void’ for mid-tier CROs

Related tags: Private equity firm, Venture capital

Pharm-Olam has secured an investment from Quad-C Management as the private equity firm eyes add-on acquisitions to complement organic growth.

Frank Winslow, a Partner at Quad-C, told us the Virginia-headquartered middle market private equity firm has been researching and pursuing investments in the CRO space for more than a decade.

During this time the industry has seen “quite a bit of consolidation​,” he said, which has created a “real void in the market for independent, mid-tier CROs​.”

As Outsourcing-Pharma.com previously reported​, outsourcing companies are expected to witness “significant investments​” from private equity and venture capital.

The industry should benefit from tailwinds, as increasing costs for drug makers supports ongoing globalization trends​,” explained Winslow. “The growing complexity of clinical trials also supports a company like Pharm-Olam​.”

The investment marks the company’s first in the CRO industry, though Windlow said the deal fits into the company’s “sweet spot​,” as it looks to bring a business-development mindset and pursue a number of different avenues for growth.

We understand Pharm-Olam's competitive set and see a real opportunity to drive both organic growth and also pursue add-on acquisitions that can add expertise around new verticals or grow the company geographically​,” he added.

The Texas-based CRO currently has 27 offices worldwide though Windlow said Quad-C will expand the company’s reach “to new end markets and new locations​” through strategic transactions.

David Grange of Quad-C will join the Pharm-Olam board as Vice Chairman.

Terms of the transaction were not disclosed.

(Feature image: iStock/pichet_w)

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