Tags: KKR | Clinical | Trials | Company

KKR to Buy Second Clinical Trials Company This Year

Wednesday, 31 Jul 2013 05:39 PM

 

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink
KKR & Co. LP said on Wednesday it had agreed to acquire ReSearch Pharmaceutical Services Inc (RPS) from private-equity peer Warburg Pincus LLC, marking its second announced investment in a global contract research organization in as many months.

Terms of the deal were not disclosed, but a person familiar with the matter said RPS had earnings before interest, tax, depreciation and amortization of about $30 million.

In June, KKR said it was buying clinical research group PRA International from Genstar Capital LLC for an undisclosed amount, but a source familiar with the matter said the agreed price was around $1.3 billion.

Upon closing both deals, KKR plans to merge PRA and RPS, with PRA Chief Executive Officer Colin Shannon leading the combined company, according to a press release issued by KKR. The deal is expected to close in the third quarter.

Warburg Pincus took RPS private in 2011 for $227.3 million. The Fort Washington, Pennsylvania-based clinical trials company has more than 5,000 employees and operations in more than 64 countries, according to its website.

Citigroup and law firm Kirkland & Ellis LLP advised RPS. Credit Suisse, Jefferies LLC and UBS Investment Bank served as financial advisers to KKR. Simpson Thacher & Bartlett served as legal counsel for KKR.

© 2014 Thomson/Reuters. All rights reserved.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Retype Email:
Country
Zip Code:
 
You May Also Like
Around the Web

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved