Audax Private Equity (“Audax”) announced today that it has entered into a definitive agreement to acquire the Clinical Services business of Avantor, Inc. (NYSE: AVTR) (“Clinical Services” or “the Company”). The transaction is anticipated to close in the fourth quarter, pending regulatory approvals.
Clinical Services specializes in providing clinical trial and laboratory supply chain services to pharmaceutical and biotechnology companies, contract research organizations (CROs), and diagnostic laboratories. The business operates 10 facilities across the United States, United Kingdom, and Europe. It also boasts a global logistics and equipment services network, positioning itself as a preferred partner for managing complex and evolving supply chain needs in the industry.
David Wong, Partner at Audax Private Equity, commented, “We highly value the unique capabilities that this business offers to some of the most demanding customers in the pharma and life sciences sectors. We are excited to invest aggressively to expand the Company’s commercial and technical reach. We believe the services provided by this business are fundamental to advancing therapeutic development.”
The Company’s services include active trial and post-trial sample storage and archiving, supply chain management, and packaging and logistics for sample collection. These services are delivered under three well-respected brand names: EPL Archives, MESM, and Therapak.
Audax has a history of successfully completing corporate carve-outs, including the acquisitions of Aspen Surgical, Lifemark, and others. The firm brings extensive experience in the healthcare sector, with a portfolio that spans pharma services, life science tools, medical technology, and value-based care.
Stephen Weaver, Managing Director at Audax Private Equity, added, “We are pleased to collaborate with Avantor to ensure a smooth and swift transition for all stakeholders. The investments we plan to make in this platform should bring significant benefits to our clients and team members.”
Audax is making this acquisition through its flagship fund.
Moelis & Company LLC acted as financial advisor, and Ropes & Gray LLP served as legal counsel to Audax Private Equity. J.P. Morgan Securities LLC served as financial advisor to Avantor, with Arnold & Porter acting as Avantor’s legal advisor.
ABOUT AUDAX PRIVATE EQUITY
Based in Boston, with offices in San Francisco, New York, and London, Audax Private Equity partners with middle-market companies to drive transformational growth through private equity and strategic capital strategies. With approximately $19 billion in assets under management, over 270 employees, and more than 100 investment professionals, Audax has invested in over 170 platforms and 1,300 add-on acquisitions since its inception in 1999. Audax employs a disciplined Buy & Build approach across six core industry sectors, helping portfolio companies execute growth initiatives that drive revenue, optimize operations, and significantly increase equity value. For more information, visit www.audaxprivateequity.com or follow us on LinkedIn.
ABOUT AVANTOR
Avantor® is a leading provider of life science tools and mission-critical products and services to the life sciences and advanced technology industries. The company partners closely with customers throughout the scientific journey to enable breakthroughs in medicine, healthcare, and technology. Avantor’s portfolio supports virtually every stage of research, development, and production at more than 300,000 customer locations in 180 countries. For more information, visit avantorsciences.com and follow us on LinkedIn, X (Twitter), and Facebook.
