NovaQuest Mergers and Acquisitions Summary

Private Equity Firm Profile

In the last 3 years, NovaQuest has acquired 1 company. It has also invested in 2 others.

NovaQuest’s most common sectors for investment arelife science (58%) and information technology (15%) . The Firm’s most common investment types include buyout (lbo, mbo, mbi) (36%) and growth capital (36%). In total, NovaQuest has invested in 6 US states and 4 different countries.

In the last 3 years, NovaQuest has exited 1 company. The Firm’s most common exit type is trade sale (34%). NovaQuest’s largest (disclosed) exit occurred in 2024 when it sold Pro-ficiency for $100M.

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M&A Summary

  • M&A Total Activity16
    • M&A Buy Activity13
    • M&A Sell Activity3
  • Total Sectors Invested 5
  • Total Countries Invested 4
  • M&A Buy/Sell Connections 5
  • M&A Advisors 2

NovaQuest

NovaQuest Capital Management, L.L.C.

4208 Six Forks Road Suite 920,
Raleigh, North Carolina 27609
United States
(919) 459-8620
www.novaquest.com
nqinfo@nqcapital.com

NovaQuest Capital Management is a private equity firm focused on acquiring and investing in growth-stage middle-market healthcare companies. Specific areas of interest include life science, medical technology, healthcare/facility services, and healthcare focused IT. The Firm targets profitable companies valued up to $500 million with $20 to $100 million of revenue. NovaQuest Capital Management was established in 2000 and is based in Raleigh, North Carolina.


Investment Criteria

Sectors of Interest: Healthcare Services, Information Technology, Life Science, Medical Products

Target Transaction Types: Buyout (LBO, MBO, MBI), Growth Capital

Geographic Preferences: East US, Midwest US, South US, West US, Canada

Transaction Criteria Min Max
Target Revenue 20 100
Target EBITDA - -
Investment Size - -
Enterprise Value - 500
values in millions of USD

M&A Summary

Buy vs Sell

Year ≤ '19 '20 '21 '22 '23 '24 T
Buy (1.0/yr) # 8 2 3 - - - 13
Sell (0.4/yr) # 1 1 - - - 1 3
vol $100M $100M
  16

Most Recent M&A

Company Date Value Type
Pro-ficiency LLC 2024-06-12 100M USD Trade Sale
Raleigh, North Carolina · www.pro-ficiency.com
Covenant Animal Health Partners 2021-11-30 - Stake Purchase
Raleigh, North Carolina · www.covenantah.net
Pro-ficiency LLC 2021-02-23 - Growth Capital
Raleigh, North Carolina · www.pro-ficiency.com
CoreRx, Inc. 2021-01-19 - Buyout (LBO, MBO, MBI)
Clearwater, Florida · www.corerxpharma.com
Argenta Ltd. 2020-11-18 - Growth Capital
Auckland, New Zealand · www.argentaglobal.com
Mileutis Ltd. 2020-10-19 - Growth Capital
Ness Ziona, Israel · www.mileutis.com
Clinical Ink, Inc. 2020-08-04 - Secondary Sale
Horsham, Pennsylvania · www.clinicalink.com
InformedDNA 2019-12-23 - Growth Capital
St. Petersburg, Florida · www.informeddna.com
Nevakar, Inc. 2019-06-18 - Growth Capital
Bridgewater, New Jersey · www.nevakar.com
Catalyst Clinical Research LLC 2018-10-31 - Buyout (LBO, MBO, MBI)
Wilmington, North Carolina · www.catalystcr.com
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
Azurity Pharmaceuticals, Inc. 2018-03-26 Slayback Pharma LLC 2023-09-27 3
Woburn, Massachusetts · www.azurity.com Princeton, New Jersey · www.slayback-pharma.com
Azurity Pharmaceuticals, Inc. 2018-03-26 Arbor Pharmaceuticals LLC 2021-08-24 2
Woburn, Massachusetts · www.azurity.com Atlanta, Georgia · www.arborpharma.com

M&A by Sector

Sector Current # Value All-time # Value
Life Science 7 (70%) - 8 (57%) -
Consumer Services 2 (20%) - 2 (14%) -
Information Technology 1 (10%) - 2 (14%) -
Education - - 1 (7%) -
Staffing - - 1 (7%) -
Total 10 - 14 -

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 7 (70%) - 11 (79%) -
  North Carolina 2 (20%) - 4 (29%) -
  Florida 2 (20%) - 2 (14%) -
  Pennsylvania 1 (10%) - 2 (14%) -
  New Jersey 1 (10%) - 1 (7%) -
  Massachusetts 1 (10%) - 1 (7%) -
  California - - 1 (7%) -
Australia 1 (10%) - 1 (7%) -
Israel 1 (10%) - 1 (7%) -
New Zealand 1 (10%) - 1 (7%) -
Total 10 - 14 -

Acquisitions by Deal Type

Type Current # Value All-time # Value
Buyout (LBO, MBO, MBI) 2 (20%) - 5 (36%) -
Growth Capital 4 (40%) - 5 (36%) -
Secondary Buyout 2 (20%) - 2 (14%) -
Stake Purchase 2 (20%) - 2 (14%) -
Total 10 - 14 -

Exits by Deal Type

Type Total # Value
Secondary Sale 2 (67%) -
Trade Sale 1 (33%) 100M (100%)
Total 3 $100M

Top M&A Advisors

Legal Deals
Wyrick Robbins Yates & Ponton LLP
4
Bass, Berry & Sims
1

Deal Values

sell # Total
< $100M 1 $100M
TOTAL $100M
Largest Pro-ficiency LLC
$100M (2024-06-12)

M&A Connections

Deals
Acquired from
Investor(s)
14%
2 (14%)
Strategic(s)
14%
2 (14%)
Exited to
Investor(s)
67%
2 (67%)
Strategic(s)
33%
1 (33%)

FAQ

When was NovaQuest founded?

NovaQuest was founded in 2010.

What type of investor is NovaQuest?

NovaQuest is a private equity firm.

Where is NovaQuest headquartered?

NovaQuest is headquartered in Raleigh, North Carolina.

How much capital does NovaQuest have under management?

NovaQuest has 3.0B USD under management.

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