M&A Deal Summary

Advarra Acquires Forte Research Systems

On September 5, 2019, Advarra acquired software company Forte Research Systems from Primus Capital

Acquisition Highlights
  • This is Advarra’s 1st transaction in the Software sector.
  • This is Advarra’s 4th transaction in the United States.
  • This is Advarra’s 1st transaction in Wisconsin.

M&A Deal Summary

Date 2019-09-05
Target Forte Research Systems
Sector Software
Buyer(s) Advarra
Sellers(s) Primus Capital
Deal Type Add-on Acquisition

Target

Forte Research Systems

Madison, Wisconsin, United States
Forte Research Systems, Inc. provides software and services in the critical areas of clinical trial management, clinical data management, and research administration for cancer centers, academic medical centers, and health systems. With a strong belief in community, collaboration, and standards-based development, Forte also facilitates the Onsemble Community, a customer-exclusive group for peer networking, best practices, and support. Twice a year at the Onsemble Conference, clinical research professionals meet in person and discuss the latest challenges and solutions in clinical research. Forte provides all research professionals complimentary blog articles, eBooks, webinars, and more to support continuous learning on industry topics.

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Buyer(S) 1

Buyer

Advarra

Columbia, Maryland, United States

Category Company
Founded 1983
Sector Life Science
DESCRIPTION

Advarra is a provider of IRB, IBC, and compliance consulting services in North America. Fully accredited by AAHRPP, the company serves pharmaceutical, biotechnology, and medical device research sponsors and contract research organizations (CROs), as well as academic medical centers, hospital systems, investigative site networks, and patient advocacy groups. Advarra was founded in 1983 and is based in Columbia, Maryland.


DEAL STATS #
Overall 4 of 10
Sector: Software M&A 1 of 2
Type: Add-on Acquisition M&A Deals 2 of 8
State: Wisconsin M&A 1 of 1
Country: United States M&A 4 of 9
Year: 2019 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-03-05 Quorum Review

Seattle, Washington, United States

Quorum Review, Inc. is a provider of institutional review board (IRB) research through faster study start-up, reduced fulfillment time, and the largest offering of complementary study support services.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-04-20 IRB Co.

Buena Park, California, United States

IRB Co., Inc. is an AAHRPP-accredited central IRB that has conducted research reviews in the U.S. IRB is based in Buena Park, California.

Buy -

Seller(S) 1

SELLER

Primus Capital

Cleveland, Ohio, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1983
PE ASSETS 900M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Primus Capital is a private equity firm focused on investing in established companies in the business services, healthcare and education industry sectors. Primus looks for established, high-growth companies with strong management and predictable/recurring revenues. The Firm will consider both control and minority positions and has a target investment size of $15 to $70 million. Prospective transaction types include growth equity financings, recapitalizations, and management-led buyouts. Primus Capital was formed in 1983 and is based in Cleveland, Ohio.


DEAL STATS #
Overall 35 of 47
Sector: Software M&A 6 of 9
Type: Add-on Acquisition M&A Deals 22 of 29
State: Wisconsin M&A 1 of 1
Country: United States M&A 34 of 46
Year: 2019 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-08-08 Purplelab

Wayne, Pennsylvania, United States

PurpleLab develops a cloud-based provider analytics platform. The Agile Provider Profiling Platform features on-demand, subscription-based access to easy-to-use, yet highly customizable query and reports templates all designed to profile and rank providers based on their quantitative performance metrics. Purplelab was founded in 2015 and is based in Wayne, Pennsylvania.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-02-14 Proxibid

Omaha, Nebraska, United States

Proxibid is an online marketplace for buying and selling highly valued items. Proxibid’s Marketplace supports 16 categories, including heavy equipment, industrial machinery, real estate, fine art, antiques and collectibles, and more. Proxibid was established in 2001 and is based in Omaha, Nebraska.

Sell -