Audax Private Equity has acquired the clinical services division of Avantor, Inc. and rebranded it as Resonant Clinical Solutions (“Resonant”). Resonant comprises three established brands: EPL Archives, MESM, and Therapak, which have roots dating back to the 1970s. These brands offer a range of quality-focused services to pharmaceutical, biotech, contract research organizations (CROs), and diagnostic labs.
Audax plans to drive growth for Resonant through both organic initiatives and acquisitions to enhance existing solutions and add complementary capabilities. Stephen Weaver, Managing Director at Audax, expressed excitement about supporting Resonant’s growth as an independent company in the outsourced clinical trial services sector. Partner David Wong highlighted that Resonant’s strong client relationships and expertise in managing the increasing complexity of clinical trials position it for accelerated growth.
Moelis & Company LLC acted as financial advisor, and Ropes & Gray LLP served as legal counsel for Audax. J.P. Morgan Securities LLC and Arnold & Porter provided financial and legal advisory services to Avantor, respectively.
ABOUT AUDAX PRIVATE EQUITY
Headquartered in Boston, with offices in San Francisco, New York, and London, Audax Private Equity manages three strategies: its Flagship and Origins private equity strategies, seeking control buyouts in the core middle and lower middle markets, respectively, and its Strategic Capital strategy that provides customized equity solutions to PE-backed portfolio companies to help drive continued growth. With approximately $19 billion of assets under management as of June 2024, over 270 employees, and 100-plus investment professionals, Audax has invested in more than 170 platforms and 1,300 add-on acquisitions since its founding in 1999. Through our disciplined Buy & Build approach, across six core industry verticals, Audax seeks to help portfolio companies execute organic and inorganic growth initiatives with the aim of fueling revenue expansion, optimizing operations, and significantly increasing equity value.
