BioAgilytix provides outsourced laboratory services to customers within the pharmaceutical, biotechnology, and agriculture industries. The company is headquartered in Durham, NC (www.bioagilytix.com).
“Co-Founders Jim Petrilla and Dr. Afshin Safavi have built a terrific business focused on supporting large molecule drug development, a very exciting area within the pharmaceutical and biotechnology industries. Riverside Partners is looking forward to utilizing our deep healthcare experience to help accelerate the company’s growth,” said Philip Borden, General Partner at Riverside Partners.
Riverside Partners invests in established and growing middle market healthcare and technology-oriented companies that have revenues from $20 million to $200 million and EBITDA’s from $5 million to $25 million. Riverside Partners is currently investing its fifth fund, Riverside Partners Fund V, L.P., with $561 million of capital commitments. The firm was founded in 1989 and is based in Boston (www.riversidepartners.com).
“The BioAgilytix team is very excited work with Riverside Partners. The Riverside team has a great understanding of how to scale a pharmaceutical services business and the two organizations have a very strong cultural fit,” said Jim Petrilla, Co-Founder and CEO of BioAgilytix.
© 2013 PEPD • Private Equity’s Leading News Magazine • 6-5-13