M&A Deal Summary

KKR Acquires PRA Health Sciences

On June 24, 2013, private equity firm KKR acquired life science company PRA Health Sciences from Genstar Capital for 1.3B USD

Acquisition Highlights
  • This is KKR’s 4th transaction in the Life Science sector.
  • This is KKR’s 60th largest (disclosed) transaction.
  • This is KKR’s 57th transaction in the United States.
  • This is KKR’s 3rd transaction in North Carolina.
Investment Fate
  • PRA Health Sciences went public in 2014.
  • PRA Health Sciences was sold to a strategic buyer in 2021 for 12.0B USD.

M&A Deal Summary

Date 2013-06-24
Target PRA Health Sciences
Sector Life Science
Buyer(s) KKR
Sellers(s) Genstar Capital
Deal Type Secondary Buyout
Deal Value 1.3B USD

Target

PRA Health Sciences

Raleigh, North Carolina, United States
website
PRA Health Sciences' corporate headquarters in Raleigh, North Carolina.
PRA Health Sciences' corporate headquarters in Raleigh, North Carolina.
PRA Health Sciences, Inc. is an international clinical research organization. PRA provides services on a contract basis to the pharmaceutical and biotechnology industries. Comprehensive services include the filing of Investigational New Drug (IND) and similar regulatory applications, management and implementation of Phase I through IV clinical trials, preparation and submission of New Drug Applications (NDAs), and post-marketing surveillance on an international basis. PRA was formed in 1976 and is based in Raleigh, North Carolina.

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Buyer(S) 1

Buyer

KKR

New York, New York, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1976
PE ASSETS 510.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
KKR's office in Menlo Park, California.
KKR's office in Menlo Park, California.

KKR is a global investment firm founded by Jerome Kohlberg, Henry Kravis, and George Roberts. The Firm is separated into several business segments including private markets, public markets, capital markets, and other principal activities. KKR's private equity practice invests in management buyouts, take privates, corporate divestitures, industry consolidations, and partnerships with family-owned companies. KKR will invest in a broad range of industries and companies and will consider businesses throughout North America, Europe, Asia, and Australia/New Zealand. Sectors of interest include chemicals, consumer products, energy and natural resources, financial services, healthcare, industrial, media/communications, retail, and technology. In addition to its traditional principal investment activity business, KKR also invests in infrastructure assets. KKR was formed in 1976 and is based in New York, New York.


DEAL STATS #
Overall 125 of 430
Sector (Life Science) 4 of 17
Type (Secondary Buyout) 22 of 104
State (North Carolina) 3 of 6
Country (United States) 57 of 189
Year (2013) 8 of 21
Size (of disclosed) 60 of 94
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-05-21 Seven West Media

Sydney, Australia

Seven West Media is a media company with diversified presence in broadcast television, radio, newspaper publishing, magazine publishing and online. Seven West Media was founded in 1991 and is based in Perth, Australia.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-06-28 KION Group

Frankfurt, Germany

The KION Group is a worldwide provider of forklifts, warehouse equipment and other industrial trucks. KION Group was founded in 2006 and is based in Frankfurt, Germany.

Sell -

Seller(S) 1

SELLER

Genstar Capital

San Francisco, California, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1988
PE ASSETS 49.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Genstar Capital is a private equity firm that seeks investments in life science, healthcare, medical products, industrial technology, software, financial services, packaging, building materials, manufacturing, and business services companies. Genstar looks to invest between $50 and $400 million of equity capital in businesses valued up to $1 billion. Target transaction situations include control-oriented leveraged buyouts of corporate divisions, privately held businesses or public companies, minority investments in privately held businesses or public companies, ownership restructurings/recapitalizations of privately held businesses, growth equity financings, partnerships with other strategic or financial buyers, and take privates. Genstar Capital was formed in 1988 and is based in San Francisco, California.


DEAL STATS #
Overall 21 of 59
Sector (Life Science) 3 of 6
Type (Secondary Buyout) 5 of 23
State (North Carolina) 2 of 3
Country (United States) 19 of 53
Year (2013) 1 of 2
Size (of disclosed) 4 of 12
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-03-27 Altegris Companies

La Jolla, California, United States

Altegris Companies, Inc. is a provider of alternative investment solutions designed for financial professionals and individuals seeking to improve portfolio diversification.

Buy $413M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-11-18 MidCap Financial

Bethesda, Maryland, United States

MidCap Financial is a commercial finance company focused on providing debt solutions to middle-market healthcare companies. MidCap Financial was founded in 2008 and is based in Bethesda, Maryland.

Sell -