Amulet Capital Partners has acquired SynteractHCR, a contract research organization that supports Phase I‐IV clinical trials for emerging to mid-sized biopharma companies, from Gryphon Investors.
SynteractHCR was founded in 1995 and, according to the company, is a top 20 global contract research organization. The company has specific expertise in the oncology, immunotherapy, infectious disease, endocrinology, cardiovascular and respiratory sectors. Since founding, the company has been responsible for over 3,500 projects that included more than 700,000 patients. SynteractHCR has over 800 employees in 21 countries and is based near San Diego in Carlsbad, CA (www.synteracthcr.com).
“The importance of CROs to the pharmaceutical and biotech industries has grown significantly in the last decade, and the current market dynamic is very favorable for middle market CROs, particularly those focused on small and mid-sized biopharma clients,” said Ramsey Frank, Partner and Co-founder of Amulet . “SynteractHCR will serve as a platform in the industry as we seek to invest in or acquire complementary businesses that will expand the company’s geographic footprint and areas of therapeutic expertise.”
Amulet invests from $25 million to $150 million of equity in companies active in the healthcare sector. Transaction structures include leveraged buyouts, restructurings or recapitalizations, and growth capital. The firm was founded in 2015 by Ramsey Frank and Jay Rose and is based in Greenwich, CT (www.amuletcapital.com). The buy of SynteractHCR is the first acquisition by Amulet since its founding.
“We welcome this new relationship with Amulet as they understand our positioning and the opportunities available to us,” said SynteractHCR CEO Wendel Barr. “New funding will allow us to enhance our full service capabilities, hire even more international clinical development experts to support global trials, and increase our ability to help our clients successfully navigate the complex drug development process.”
Gryphon Investors, which acquired SynteractHCR in 2008, makes leveraged acquisitions and growth investments in middle-market companies. The firm invests from $35 million to $100 million of capital in companies with sales ranging from $50 million to $400 million. Sectors of interest include business services, consumer and retail, automotive, chemical, general manufacturing, health care and hotels. Gryphon is based in San Francisco (www.gryphoninvestors.com).
Capital One, NA and THL Credit provided debt financing for the transaction. Wells Fargo Securities and Raymond James & Associates were the financial advisor to SynteractHCR and Gryphon Investors.
© 2016 Private Equity Professional • Private Equity’s Leading News Magazine • 5-26-16
