DURHAM, NC – September 7, 2016 – Avista Pharma Solutions, Inc. (“Avista Pharma”) has announced the sale of its facility in Eagan, Minn. to Microbiology Research Associates (MRA, Acton, Mass.), a portfolio company of Thompson Street Capital Partners (TSCP). The Eagan facility, which operates as Accuratus Lab Services (Accuratus), is a leading provider of testing services for antimicrobial products that are regulated by the Environmental Protection Agency (EPA). The sale marks another successful strategic exit for Ampersand Capital Partners (Ampersand), the private equity owner of Avista Pharma, and allows Avista Pharma to focus on its core market in contract services to the pharmaceutical industry.
“Our Accuratus site in Eagan has been a high-performing site for Avista Pharma, and we want to thank the leadership team and employees for their dedication to the business,” said Mr. Patrick Walsh, Chief Executive Officer of Avista Pharma.
Avista Pharma was formed through the strategic combination of three complementary businesses serving the pharmaceutical, animal health and medical device industries. With the strong support of Ampersand, Avista Pharma continues to grow as a best-in-class contract testing, development and manufacturing organization (CDMO) with locations in Durham, N.C.; Longmont, Colo. and Agawam, Mass. This growth includes ongoing investment in its 26,000-square-foot facility in Agawam that provides Microbiology and Analytical Chemistry testing services as well as Cleanroom services.
Avista Pharma was represented on the transaction by Fairmount Partners (www.fairmountpartners.com), an investment banking firm based in West Conshohocken, Pa.
About Avista Pharma Solutions, Inc.
Avista Pharma, a portfolio company of Ampersand, is a contract testing, development and manufacturing organization (CDMO) encompassing over 200,000 square feet of laboratory and manufacturing space across three locations (Agawam MA, Durham NC and Longmont CO), providing pharmaceutical, animal health and medical device clients a broad suite of scientifically-differentiated services ranging from early stage API and Drug Product discovery, development and cGMP manufacturing to stand-alone analytical and microbiology testing support. For more information about Avista Pharma, please contact us at http://www.avistapharma.com/contact-us/.
About Ampersand Capital Partners
Ampersand is a middle market private equity firm with a focus on growth equity investments in the healthcare sector. Over the past two decades, Ampersand has managed more than $1 billion in private equity partnerships. Ampersand leverages its unique blend of private equity and operating experience to build value and drive superior long-term performance alongside its portfolio company management teams. Additional information about Ampersand is available at http://www.ampersandcapital.com.
About Fairmount Partners
Based in Philadelphia, Fairmount Partners is the leading investment banker worldwide for pharmaceutical, device and related services businesses. Fairmount provides merger and acquisitions advisory services, and assists companies to raise funding for acquisitions, growth and liquidity. Fairmount’s Pharmaceutical Service Group has assisted clients to complete over 110 transactions in 18 countries in North and South America, Europe, Asia and Australia, and has completed deals involving nearly all of the top CROs in the world. www.fairmountpartners.com
Principals of Fairmount Partners acted as advisors to Avista Pharma Solutions, Inc. in this transaction.