BOSTON, MA – June 13, 2017 – Audax Private Equity (“Audax”) announced that it has partnered with management to acquire Altasciences Company, Inc. (“Altasciences”), a leading early phase contract research organization (CRO) in North America. Audax acquired Altasciences from Kilmer Capital Partners, a private equity firm based in Toronto, Canada. Terms of the transaction were not disclosed.
Altasciences, headquartered in Laval, Quebec, encompasses Algorithme Pharma, Vince & Associates Clinical Research, and Algorithme Pharma USA. Altasciences offers expertise in the execution of a wide range of New Drug Application (NDA) enabling clinical trials and support services including data management, biostatistics, medical writing, and bioanalysis.
Geoffrey S. Rehnert, Co-Chief Executive Officer, Audax Group, said, “Altasciences is a leader in the early phase clinical research industry. We look forward to working with Chris Perkin and the Altasciences team to continue building a leading platform through organic growth and add-on acquisitions.”
Chris Perkin, Chief Executive Officer, Altasciences, said “We are excited to be partnering with Audax for the next stage of our growth. Audax brings expertise and resources that will help us continue to build our market leadership position by expanding our service offering and value proposition to our clients through strategic acquisitions and growth initiatives.”
Fairmount Partners and Stikeman Elliott served as Altasciences’ financial and legal advisor, respectively.
Altasciences Clinical Research encompasses Algorithme Pharma in Montreal, QC, Vince & Associates Clinical Research in Overland Park, KS, as well as Algorithme Pharma USA in Fargo, ND, thereby making it one of the largest early phase clinical CROs in North America. With over 25 years of industry experience, Altasciences provides early phase clinical development services to an international customer base of biopharmaceutical and generic companies. Altasciences’ full service solutions offering in this critical stage of drug development includes medical writing, biostatistics, data management and bioanalysis.
About Audax Private Equity
Since its founding in 1999, Audax Private Equity has been focused on building leading middle market companies. Audax has invested $4 billion in 105 platform and 573 add-on companies. Through its disciplined Buy & Build approach, Audax seeks to help platform companies execute add-on acquisitions that fuel revenue growth, optimize operations, and significantly increase equity value. Audax Private Equity is an integral part of Audax Group, an alternative asset management firm specializing in investments in middle market companies. With offices in Boston, New York, and San Francisco, Audax Group has over $11 billion in assets under management across its Private Equity, Mezzanine, and Senior Debt businesses. For more information, visit the Audax Group website, www.audaxgroup.com.
About Fairmount Partners
Based in Philadelphia, Fairmount Partners is the leading investment bank 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 Services Group has assisted clients to complete over 115 transactions in 18 countries in North and South America, Europe, Asia and Australia.
Principals of Fairmount Partners acted as advisors to Altasciences in this transaction.
Further information is available at www.fairmountpartners.com