The private equity (PE) firm Permira has signed a definitive agreement to acquire a majority stake in Quotient Sciences from companies controlled by GHO Capital and other investors.
The deal – financial terms of which were not disclosed – will support facility expansion, the addition of new hires, investment in capital equipment, expansion of service offerings, and more, said Quotient CEO Mark Egerton.
The contract development and manufacturing organization (CDMO) had been working with GHO Capital since 2015.
“We remain focused on building the next generation CDMO service business that is more attuned to addressing customer need in today’s rapidly evolving marketplace,” said Egerton, who will continue to lead the company with the current management team.
Market opportunity to grow the company’s Translational Pharmaceutics platform will drive organic growth, Egerton told us.
“In addition, a number of opportunities to stretch our core business into adjacent service sectors and additional geographies have also been identified – which form the basis of our inorganic growth plan,” he added.
The company has made several acquisitions over the last few years, among other milestones, including the launch of its US-based operations.
“Based upon this success, our aspirations to accelerate the growth of our business have also grown,” said Egerton, speaking to the acquisition. “We wanted to partner with a new PE firm that shared those aspirations and had the required capital resources to support an inorganic acquisition component of our business plan.”