London, UK – July 18, 2019 – Quotient Sciences and global investment firm Permira today announced that a company backed by the Permira Funds has signed a definitive agreement to acquire a majority stake in Quotient from companies controlled by GHO Capital, the European specialist investor in healthcare, and other investors for an undisclosed sum. The investment provides substantial new funding to fuel the next stage of Quotient’s growth. Chief Executive Officer Mark Egerton and the management team will continue to lead Quotient.
Quotient Sciences has brought innovation to the pharmaceutical services sector through its unique Translational Pharmaceutics® platform, which is proven to accelerate development timelines, reduce development costs, and drive improvement in R&D productivity. The business has experienced substantial growth over recent years and generates annual revenues in excess of £100 million.
“We are delighted to partner with Permira to drive Quotient through our continued evolution,” said Mark Egerton, Ph.D., Chief Executive Officer of Quotient Sciences. “The investment by Permira will support Quotient’s continued growth plans, which include broadening our core services portfolio and expanding our formulation development and manufacturing capabilities to meet the demands of our growing customer base.”
Marcel Lacaze, Principal in the Global Healthcare Group of Permira based in London, added, “Quotient Sciences and its disruptive approach to pharmaceutical drug development have created a truly unique business model. With GHO’s support, the business has developed strongly in recent years and we look forward to partnering with Mark and his team in continuing to grow this exciting company.”
The Partners at GHO Capital have enjoyed working with the Quotient team since 2015. “During this period, the business has achieved a global footprint, replicated its unique Translational Pharmaceutics in the U.S., and validated itself as a commercial drug product manufacturer. Having more than doubled its capacity and made large investments in operational infrastructure, Quotient is well placed to continue its strong performance, and we look forward to seeing their continued success in partnership with Permira.”
Fairmount Partners, a leading investment bank for pharmaceutical and device services businesses, provided origination support and M&A advice to GHO Capital.
Quotient Sciences was advised by Baird with LEK Consulting providing commercial advice, PwC financial and tax advice. MacFarlanes LLP provided legal advice.
Ropes and Gray and Liberty Finance provided management advice.
About GHO Capital
Global Healthcare Opportunities, or GHO Capital Partners LLP, is a leading specialist healthcare investment advisor based in London. We apply global capabilities and perspectives to unlock high growth healthcare opportunities in Europe, building market leading businesses of strategic global value. Our proven investment track record reflects the unrivalled depth of our industry expertise and network. We partner with strong management teams to unlock value in a global system that demands the delivery of better, faster, more accessible healthcare. For further information, please visit www.ghocapital.com.
About Quotient Sciences
Quotient Sciences, a global pharmaceutical development, clinical pharmacology, and clinical and commercial manufacturing organisation, delivers innovative, customised solutions for pharmaceutical and biotech customers through both individual and integrated services. Its Translational Pharmaceutics® platform integrates formulation development, real-time adaptive GMP manufacturing and clinical research for the continuous improvement of drug development programs, and is proven to accelerate timelines and reduce cost. It employs over 700 staff across the UK and US, and also offers a full range of support services, from study set-up right through to data analysis and reporting.
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 132 transactions in 20 countries in North and South America, Europe, Asia and Australia. Further information is available at www.fairmountpartners.com. Contact: Neal McCarthy.