Avid Bioservices poised for significant growth with new partners GHO Capital and Ampersand Capital Partners
Avid Bioservices has been successfully acquired by GHO Capital Partners and Ampersand Capital Partners in an all-cash transaction valued at approximately $1.1 billion. The deal, which marks GHO's first public-to-private transaction, values Avid shares at $12.50 per share. Following the acquisition, Avid will be delisted from Nasdaq.
As a dedicated biologics Contract Development and Manufacturing Organisation (CDMO), Avid provides development and manufacturing services to biotechnology and pharmaceutical companies. The company has invested significantly in state-of-the-art facilities and expertise in bioprocess optimization, analytical testing, and regulatory compliance.
The new partnership aims to accelerate Avid's growth through expanded offerings, talent investment, and greater geographic reach. GHO brings considerable CDMO sector expertise through its portfolio investments, while Ampersand contributes deep industry knowledge to support Avid's next growth phase.
Avid Bioservices è stata acquisita con successo da GHO Capital Partners e Ampersand Capital Partners in una transazione completamente in contante del valore di circa 1,1 miliardi di dollari. Questo accordo, che segna la prima transazione pubblica-privata di GHO, valuta le azioni di Avid a 12,50 dollari per azione. Dopo l'acquisizione, Avid sarà esclusa dal Nasdaq.
In qualità di organizzazione di sviluppo e produzione contrattuale (CDMO) specializzata in biologici, Avid fornisce servizi di sviluppo e produzione a aziende biotecnologiche e farmaceutiche. L'azienda ha investito notevolmente in strutture all'avanguardia e competenze nell'ottimizzazione dei bioprocessi, nei test analitici e nella conformità normativa.
La nuova partnership mira ad accelerare la crescita di Avid attraverso un ampliamento delle offerte, investimenti nel talento e una maggiore portata geografica. GHO porta una notevole esperienza nel settore CDMO attraverso i suoi investimenti in portafoglio, mentre Ampersand contribuisce con una profonda conoscenza del settore per supportare la prossima fase di crescita di Avid.
Avid Bioservices ha sido adquirida con éxito por GHO Capital Partners y Ampersand Capital Partners en una transacción totalmente en efectivo valorada en aproximadamente 1.1 mil millones de dólares. Este acuerdo, que marca la primera transacción de GHO de una empresa pública a privada, valora las acciones de Avid en 12.50 dólares por acción. Tras la adquisición, Avid será retirada de Nasdaq.
Como una Organización de Desarrollo y Fabricación por Contrato (CDMO) dedicada a los productos biológicos, Avid proporciona servicios de desarrollo y fabricación a empresas biotecnológicas y farmacéuticas. La compañía ha invertido significativamente en instalaciones de última generación y en experiencia en optimización de bioprocesos, pruebas analíticas y cumplimiento normativo.
La nueva asociación tiene como objetivo acelerar el crecimiento de Avid a través de una expansión de ofertas, inversión en talento y mayor alcance geográfico. GHO aporta considerable experiencia en el sector CDMO a través de sus inversiones de cartera, mientras que Ampersand contribuye con un profundo conocimiento de la industria para apoyar la próxima fase de crecimiento de Avid.
Avid Bioservices는 GHO Capital Partners와 Ampersand Capital Partners에 의해 약 11억 달러 가치의 전액 현금 거래로 성공적으로 인수되었습니다. 이 거래는 GHO의 첫 번째 공공-사적 거래로, Avid 주가는 12.50 달러로 평가됩니다. 인수 후 Avid는 나스닥에서 제외됩니다.
생물학적 제제를 전문으로 하는 계약 개발 및 제조 조직(CDMO)으로서 Avid는 생명공학 및 제약 회사에 개발 및 제조 서비스를 제공합니다. 이 회사는 최첨단 시설과 생물 공정 최적화, 분석 테스트 및 규제 준수에 대한 전문 지식에 상당히 투자했습니다.
새로운 파트너십은 서비스 확장, 인재 투자 및 더 큰 지리적 범위를 통해 Avid의 성장을 가속화하는 것을 목표로 하고 있습니다. GHO는 포트폴리오 투자를 통해 상당한 CDMO 분야 전문성을 제공하며, Ampersand는 Avid의 다음 성장 단계 지원을 위한 깊이 있는 산업 지식을 기여합니다.
Avid Bioservices a été acquise avec succès par GHO Capital Partners et Ampersand Capital Partners dans une transaction entièrement en espèces d'une valeur d'environ 1,1 milliard de dollars. Cet accord, qui marque la première transaction de GHO d'une entreprise publique à privée, valorise les actions d'Avid à 12,50 dollars par action. Après l'acquisition, Avid sera radiée du Nasdaq.
En tant qu'organisation de développement et de fabrication sous contrat (CDMO) dédiée aux biologiques, Avid fournit des services de développement et de fabrication aux entreprises biotechnologiques et pharmaceutiques. L'entreprise a investi de manière significative dans des installations à la pointe de la technologie et des compétences en optimisation de bioprocessus, en tests analytiques et en conformité réglementaire.
Le nouveau partenariat vise à accélérer la croissance d'Avid par le biais d'une expansion des offres, d'investissements dans les talents et d'un plus grand rayonnement géographique. GHO apporte une expertise considérable dans le secteur CDMO grâce à ses investissements en portefeuille, tandis qu'Ampersand contribue avec une connaissance approfondie de l'industrie pour soutenir la prochaine phase de croissance d'Avid.
Avid Bioservices wurde erfolgreich von GHO Capital Partners und Ampersand Capital Partners in einer rein bargeldbasierten Transaktion im Wert von etwa 1,1 Milliarden Dollar übernommen. Das Geschäft, das GHOs erste Transaktion von öffentlich zu privat markiert, bewertet die Avid-Aktien auf 12,50 Dollar pro Aktie. Nach der Übernahme wird Avid von der Nasdaq delistet.
Als spezialisierte Contract Development and Manufacturing Organisation (CDMO) für Biologika bietet Avid Entwicklungs- und Produktionsdienstleistungen für Biotechnologie- und Pharmaunternehmen an. Das Unternehmen hat erheblich in modernste Einrichtungen und Fachwissen in der Bioprozessoptimierung, analytischen Prüfungen und regulatorischen Compliance investiert.
Die neue Partnerschaft zielt darauf ab, Avids Wachstum durch erweiterte Angebote, Talentinvestitionen und ein größeres geografisches Engagement zu beschleunigen. GHO bringt umfangreiche CDMO-Sektorexpertise durch seine Portfolioinvestitionen mit, während Ampersand tiefgehendes Branchenwissen beisteuert, um die nächste Wachstumsphase von Avid zu unterstützen.
- All-cash acquisition at $1.1 billion provides immediate value to shareholders
- Strategic partnership with experienced CDMO investors could accelerate growth
- Access to additional resources for expansion and capability enhancement
- Potential for geographic expansion and service offering improvements
- Delisting from Nasdaq reduces liquidity for existing shareholders
- Loss of public trading status may limit future investment opportunities
Insights
The
First, the deal structure as a public-to-private transaction at
Second, the strategic fit with GHO Capital's existing CDMO portfolio companies (Ardena, Sterling Pharma Solutions, RoslinCT and Alcami) creates potential for significant operational synergies and knowledge sharing across the platform. This could accelerate Avid's technological capabilities and market reach, particularly in European markets where GHO has a strong presence.
Third, the timing of this acquisition aligns with increasing demand for biologics manufacturing capacity, driven by:
- Growing pipeline of complex biologics in development
- Shift towards outsourced manufacturing by both biotech and large pharma companies
- Increasing regulatory requirements driving demand for experienced CDMOs
The combination of Ampersand's life sciences expertise and GHO's CDMO sector experience positions Avid for accelerated growth through expanded service offerings and greater geographic reach. This could include potential bolt-on acquisitions to enhance capabilities in emerging modalities or expand manufacturing capacity.
- Acquisition of biologics Contract Development and Manufacturing Organisation Avid Bioservices now completed
- GHO and Ampersand’s deep experience in CDMO investing to support Avid’s next stage of rapid growth including expanded offerings, talent investment and greater geographic reach
LONDON and BOSTON and TUSTIN, Calif., Feb. 05, 2025 (GLOBE NEWSWIRE) -- GHO Capital Partners LLP ("GHO"), the European specialist investor in global healthcare, and Ampersand Capital Partners (“Ampersand”), a private equity firm specialising in growth equity investments in the life sciences and healthcare sectors, today announced the successful closing of the previously announced acquisition of Avid Bioservices (“Avid” of the “Company”), a dedicated biologics Contract Development and Manufacturing Organisation (“CDMO”) working to improve patient lives by providing high quality development and manufacturing services to biotechnology and pharmaceutical companies.
Avid has experienced significant growth in recent years, offering its clients full lifecycle capabilities—from concept to commercial supply. With substantial investment already made by the Company in its capacity at its state-of-the art facilities and its expertise in bioprocess optimisation, analytical testing, and regulatory compliance, Avid delivers high-quality, industry leading complex biologics to a roster of international customers.
GHO has considerable expertise in the CDMO sector through investments in its portfolio in companies like Ardena, Sterling Pharma Solutions, RoslinCT, and Alcami Corporation. Its strategy focuses on expanding technological capabilities, driving acquisitions, and supporting transatlantic expansion across the CDMO value chain, from early-stage development to commercial manufacturing. Leveraging its healthcare expertise and network, GHO Capital transforms CDMOs to enhance their services and market reach, ultimately delivering better, faster and more accessible healthcare.
Alan MacKay and Mike Mortimer, Managing Partners of GHO, commented: “We are delighted to start 2025 with the completion of this transaction, our first public to private deal. GHO has a deep understanding of the CDMO sector and Avid perfectly exemplifies a company that is operating in high growth markets supporting the growing biotech sector in research and development and big pharma and large biotech for the commercialisation of cutting-edge biologics. Avid's recent investments, both in capacity and its exemplary team, have created a strong foundation for future growth. We look forward to partnering closely with the Avid team to unlock the business’s full potential.”
Nick Green, President and CEO of Avid, said: “Avid has succeeded by evolving and adapting to meet our customers' complex development and manufacturing needs. The completion of this transaction marks an exciting milestone as we move forward with new owners in GHO Capital and Ampersand who will provide us with access to resources that will accelerate our growth. With their support, we are well-positioned to enhance our capabilities, expand our service offerings, and deliver even greater value to our customers in this next phase of our journey."
David Anderson, General Partner of Ampersand, added: “Avid has earned its reputation as a leader in biopharmaceutical development and manufacturing through technical excellence, customised solutions, and consistent regulatory compliance. By combining our deep industry expertise with Avid's established capabilities, we are positioned to deliver enhanced value and accelerate innovation for clients globally.”
On 7 November 2024, GHO and Ampersand entered into a definitive merger agreement for Avid to be acquired by funds managed by GHO and Ampersand in an all-cash transaction valued at approximately
Advisors
William Blair served as buyside financial advisers, Ropes & Gray served as legal counsel, ClearView Healthcare Partners served as commercial advisor and Alvarez & Marsal served as financial advisors to GHO and Ampersand.
Contacts:
GHO Capital
Amber Fennell / Kris Lam
ICR Healthcare
+44 7739658783
ghocapital@icrhealthcare.com
Avid Bioservices
Stephanie Diaz
Vida Strategic Partners
415-675-7401
sdiaz@vidasp.com
Tim Brons
Vida Strategic Partners
415-675-7402
tbrons@vidasp.com
Aaron Palash / Allison Sobel
Joele Frank, Wilkinson Brimmer Katcher
(212) 355-4449
About GHO Capital
Global Healthcare Opportunities, or GHO Capital Partners LLP, is a leading specialist healthcare investment advisor based in London. GHO Capital applies global capabilities and perspectives to unlock high growth healthcare opportunities, targeting Pan-European and transatlantic internationalisation to build market leading businesses of strategic global value. GHO Capital’s proven investment track record reflects the unrivalled depth of our industry expertise and network. GHO Capital partners with strong management teams to generate long-term sustainable value, improving the efficiency of healthcare delivery to enable better, faster, more accessible healthcare. For further information, please visit www.ghocapital.com.
About Avid Bioservices, Inc.
Avid Bioservices is a dedicated CDMO focused on development and CGMP manufacturing of biologics. The Company provides a comprehensive range of process development, CGMP clinical and commercial manufacturing services for the biotechnology and biopharmaceutical industries. With more than 30 years of experience producing biologics, Avid's services include CGMP clinical and commercial drug substance manufacturing, bulk packaging, release and stability testing and regulatory submissions support. For early-stage programs the Company provides a variety of process development activities, including cell line development, upstream and downstream development and optimization, analytical methods development, testing and characterization. The scope of our services ranges from standalone process development projects to full development and manufacturing programs through commercialization. www.avidbio.com
About Ampersand Capital Partners
Ampersand Capital Partners, founded in 1988, is a middle-market private equity firm with
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