Under the agreement, announced this morning, Pamplona will acquire all outstanding shares of the contract research organization (CRO) for $88.10 per share in cash.
The transaction, which is valued at approximately $5.0bn, is expected to close early in the fourth quarter of 2017.
“Today’s announcement is the culmination of a comprehensive review of the opportunities available to the Company, including interest solicited and received from multiple parties with the assistance of independent financial and legal advisors,” Josef von Rickenbach, Chairman and CEO of Parexel commented in the release.
Pamplona has previously invested in nThrive, Formativ Health, Brighton Health Group, Alvogen, Spreemo, PatientCo, and Intralign.
The deal comes on the heels of several private equity investments in the contract research and manufacturing industry, including the recent purchase of AMRI by The Carlyle Group.
Parexel is not providing any additional comment at this time.