Audax Private Equity Completes Carveout of Avantor, Inc.’s Clinical Services Business and Rebrands the Company as Resonant Clinical Solutions
Audax Private Equity has completed the acquisition of Avantor, Inc.'s (NYSE: AVTR) clinical services business, rebranding it as Resonant Clinical Solutions. Resonant comprises three established brands: EPL Archives, MESM, and Therapak, which provide comprehensive services to pharmaceutical, biotechnology, CRO, and diagnostic laboratory customers.
Audax plans to drive organic and inorganic growth for Resonant, enhancing existing solutions and adding complementary capabilities through M&A. The company aims to capitalize on the increasing complexity of clinical trial services, which is driving outsourcing to specialists like Resonant.
Moelis & Company and Ropes & Gray LLP advised Audax, while J.P. Morgan Securities and Arnold & Porter advised Avantor in the transaction.
Audax Private Equity ha completato l'acquisizione del business di servizi clinici di Avantor, Inc. (NYSE: AVTR), rebranding il tutto come Resonant Clinical Solutions. Resonant comprende tre marchi affermati: EPL Archives, MESM e Therapak, che offrono servizi completi a clienti nel settore farmaceutico, biotecnologico, CRO e laboratori diagnostici.
Audax prevede di promuovere la crescita organica e non organica per Resonant, migliorando le soluzioni esistenti e aggiungendo capacità complementari attraverso fusioni e acquisizioni. L'azienda mira a capitalizzare l'aumento della complessità dei servizi di sperimentazione clinica, che sta spingendo l'esternalizzazione a specialisti come Resonant.
Moelis & Company e Ropes & Gray LLP hanno consigliato Audax, mentre J.P. Morgan Securities e Arnold & Porter hanno assistito Avantor nella transazione.
Audax Private Equity ha completado la adquisición del negocio de servicios clínicos de Avantor, Inc. (NYSE: AVTR), rebranding ahora como Resonant Clinical Solutions. Resonant comprende tres marcas consolidadas: EPL Archives, MESM y Therapak, que proporcionan servicios integrales a clientes del sector farmacéutico, biotecnológico, CRO y laboratorios de diagnóstico.
Audax planea impulsar el crecimiento orgánico e inorgánico para Resonant, mejorando las soluciones existentes y añadiendo capacidades complementarias a través de fusiones y adquisiciones. La compañía busca aprovechar la creciente complejidad de los servicios de ensayos clínicos, lo que está impulsando la externalización a especialistas como Resonant.
Moelis & Company y Ropes & Gray LLP asesoraron a Audax, mientras que J.P. Morgan Securities y Arnold & Porter asesoraron a Avantor en la transacción.
오닥스 프라이빗 에퀴티가 아반토르, Inc. (NYSE: AVTR)의 임상 서비스 사업을 인수 완료했습니다, 이를 레조넌트 클리니컬 솔루션으로 리브랜딩했습니다. 레조넌트는 EPL Archives, MESM, Therapak이라는 세 개의 확립된 브랜드로 구성되어 있으며, 제약, 생명공학, CRO 및 진단 연구소 고객에게 포괄적인 서비스를 제공합니다.
오닥스는 레조넌트의 유기적 및 비유기적 성장을 촉진할 계획이며, 기존 솔루션을 향상시키고 M&A를 통해 보완적 기능을 추가할 예정입니다. 이 회사는 임상 시험 서비스의 복잡성이 증가하고 있어 레조넌트와 같은 전문가에게 아웃소싱이 증가하고 있는 점을 활용할 계획입니다.
모엘리스 & 컴퍼니와 로프스 & 그레이 LLP가 오닥스를 지원했으며, J.P. 모건 증권 및 아놀드 & 포터가 아반토르를 상담했습니다.
Audax Private Equity a complété l'acquisition de l'activité des services cliniques d'Avantor, Inc. (NYSE: AVTR), la rebrandant comme Resonant Clinical Solutions. Resonant comprend trois marques établies : EPL Archives, MESM et Therapak, qui offrent des services complets aux clients des secteurs pharmaceutique, biotechnologique, CRO et laboratoires de diagnostic.
Audax prévoit de stimuler la croissance organique et inorganique de Resonant, en améliorant les solutions existantes et en ajoutant des capacités complémentaires par le biais de fusions et acquisitions. L'entreprise vise à tirer parti de la complexité croissante des services d'essais cliniques, ce qui entraîne une externalisation vers des spécialistes comme Resonant.
Moelis & Company et Ropes & Gray LLP ont conseillé Audax, tandis que J.P. Morgan Securities et Arnold & Porter ont conseillé Avantor dans la transaction.
Audax Private Equity hat den Erwerb des klinischen Dienstleistungsbereichs von Avantor, Inc. (NYSE: AVTR) abgeschlossen und es unter dem Namen Resonant Clinical Solutions umbenannt. Resonant besteht aus drei etablierten Marken: EPL Archives, MESM und Therapak, die umfassende Dienstleistungen für Kunden in den Bereichen Pharmazie, Biotechnologie, CRO und diagnostische Labore anbieten.
Audax plant, das organische und anorganische Wachstum von Resonant voranzutreiben, bestehende Lösungen zu verbessern und ergänzende Fähigkeiten durch Fusionen und Übernahmen hinzuzufügen. Das Unternehmen möchte die zunehmende Komplexität von klinischen Studien nutzen, die zu einer Auslagerung an Spezialisten wie Resonant führt.
Moelis & Company und Ropes & Gray LLP haben Audax beraten, während J.P. Morgan Securities und Arnold & Porter Avantor bei der Transaktion unterstützt haben.
- Acquisition of Avantor's clinical services business completed, creating an independent platform
- Rebranding as Resonant Clinical Solutions with three established brands
- Plans for organic and inorganic growth through M&A
- Positioned to benefit from increasing outsourcing trends in clinical trial services
- None.
Insights
The acquisition of Avantor's clinical services business by Audax Private Equity and its rebranding as Resonant Clinical Solutions is a significant development in the outsourced clinical trial services sector. This carveout allows Avantor to streamline its operations and focus on core competencies, potentially improving its financial efficiency.
For Avantor (AVTR), this divestiture could result in an immediate cash influx and potentially improved margins by shedding a non-core business unit. However, it also means losing a revenue stream, which investors should monitor in upcoming financial reports. The long-term impact will depend on how Avantor utilizes the proceeds from the sale and refocuses its strategy.
The growing trend of outsourcing complex clinical trial services presents a favorable market environment for Resonant. As an independent entity backed by private equity, Resonant may have more flexibility to pursue aggressive growth strategies, both organically and through M&A. This could potentially create competitive pressures for Avantor in related market segments.
Investors should watch for any guidance from Avantor management on the financial implications of this divestiture, including potential uses of the sale proceeds and adjusted growth projections. The market's reaction to this news will be telling, as it may reflect expectations for Avantor's future performance and strategic direction post-divestiture.
The rebranding of Avantor's clinical services business as Resonant Clinical Solutions under Audax Private Equity ownership signals a strategic shift in the clinical trial services landscape. This move capitalizes on the increasing complexity of clinical trials and the trend towards outsourcing specialized services.
Resonant's portfolio, comprising EPL Archives, MESM and Therapak, offers a comprehensive suite of services that cater to the evolving needs of pharmaceutical, biotechnology and CRO clients. The company's established brand reputation and long-standing customer relationships provide a solid foundation for growth in this competitive sector.
Audax's strategy to drive both organic growth and pursue M&A opportunities could lead to rapid expansion of Resonant's market share. This may create new dynamics in the outsourced clinical trial services market, potentially affecting other players in the space.
For Avantor investors, it's important to assess how this divestiture aligns with the company's long-term strategy and financial goals. The transaction's impact on Avantor's revenue, profitability and market positioning should be closely monitored in the coming quarters. Additionally, the broader market implications of this deal may influence investor sentiment towards companies operating in adjacent sectors of the life sciences and pharmaceutical services industries.
Resonant is comprised of three well-respected brands – EPL Archives, MESM, and Therapak. These long-standing brands, whose roots and lineage extend as far back as the 1970s, provide a comprehensive, quality-focused service offering to its pharmaceutical, biotechnology, contract research organization (CRO), and diagnostic laboratory customers. Beyond investing in the business and operations of Resonant, Audax will look to drive organic and inorganic growth to enhance the brands’ existing solution sets while adding complementary capabilities through M&A.
“We are grateful for Avantor’s stewardship and support of Resonant’s growth over the last seven years and are excited to support the Company in its next phase of growth as an independent platform in the outsourced clinical trial services sector,” said Stephen Weaver, Managing Director at Audax Private Equity. “We have a plan in place to effect a seamless transition as Resonant.”
“We believe Resonant’s long-tenured customer relationships -- built on years of partnership with clients -- position the Company well to accelerate growth,” said David Wong, Partner at Audax Private Equity. “Increasing complexity of clinical trial services is driving pharma sponsors and CROs to outsource these services to specialists. Resonant’s solution set allows its clients to better manage this complexity and focus their energy on drug discovery and R&D.”
Moelis & Company LLC served as financial advisor and Ropes & Gray LLP served as legal counsel to Audax Private Equity. J.P. Morgan Securities LLC served as exclusive financial advisor to Avantor and Arnold & Porter served as Avantor’s legal advisor.
ABOUT AUDAX PRIVATE EQUITY
Headquartered in
ABOUT RESONANT CLINICAL SOLUTIONS
With over 850 employees, Resonant Clinical Solutions provides clinical trial and laboratory supply chain services to pharmaceutical and biotechnology companies, contract research organizations (CROs), and diagnostic laboratories. The Company operates 10 facilities across the US,
View source version on businesswire.com: https://www.businesswire.com/news/home/20241018249909/en/
Audax Private Equity Media
Zachary Tramonti / Catherine Livingston
FGS Global
Audax@fgsglobal.com
Source: Audax Private Equity
FAQ
What is the new name of Avantor's clinical services business after the Audax Private Equity acquisition?
Which brands are included in the Resonant Clinical Solutions portfolio?
What are Audax Private Equity's plans for Resonant Clinical Solutions?
How does the acquisition of Avantor's clinical services business (AVTR) benefit from industry trends?
