M&A Deal Summary

Advarra Acquires Schulman Associates IRB

On November 7, 2017, Advarra acquired business services company Schulman Associates IRB from American Capital

Acquisition Highlights
  • This is Advarra’s 1st transaction in the Business Services sector.
  • This is Advarra’s 2nd transaction in the United States.
  • This is Advarra’s 1st transaction in Ohio.

M&A Deal Summary

Date 2017-11-07
Target Schulman Associates IRB
Sector Business Services
Buyer(s) Advarra
Sellers(s) American Capital
Deal Type Merger

Target

Schulman Associates IRB

Cincinnati, Ohio, United States
Schulman Associates IRB, Inc. is a Independent institutional review board overseeing the review of research protocols and consent documents used to protect human subjects participating in pharmaceutical, biotech, and medical device trials.

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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 2 of 10
Sector (Business Services) 1 of 4
Type (Merger) 2 of 2
State (Ohio) 1 of 1
Country (United States) 2 of 9
Year (2017) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-11-07 Chesapeake IRB

Columbia, Maryland, United States

Chesapeake Research Review, Inc. is a provider of independent IRB services for pharmaceutical companies, universities, individual researchers, academic medical centers, and community hospitals. Chesapeake Research Review was formed in 1993 and is based in Columbia, Maryland.

Buy -
FOLLOWING 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 -

Seller(S) 1

SELLER

American Capital


Category Private Equity Firm
Founded 1997
PE ASSETS 22.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

American Capital was a publicly traded buyout and mezzanine investment firm. American Capital invested in buyouts, growth capital financings, acquistion financings, and recapitalizations. The Firm looked to finance businesses with at least $4 million in EBITDA and valued between $20 and $500 million. American Capital ws a generalist firm with broad interest in traditional industries such as manufacturing, distribution, and services. American Capital's European investment affiliate is European Capital. European Capital looked to invest $10 to $600 million of equity, mezzanine, and/or senior debt in similar opportunities across Europe. American Capital was formed in 1997 and in January 2017, merged with Ares Capital Management.


DEAL STATS #
Overall 186 of 194
Sector (Business Services) 13 of 14
Type (Merger) 10 of 10
State (Ohio) 8 of 11
Country (United States) 178 of 186
Year (2017) 6 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-10-17 Tekni-Plex

Wayne, Pennsylvania, United States

Tekni-Plex is a globally-integrated company focused on developing and manufacturing innovative packaging materials, medical compounds and precision-crafted medical tubing solutions for some of the most well-known names in the medical, pharmaceutical, personal care, household and industrial, and food and beverage industries. Tekni-Plex was founded in 1967 and is based in Wayne, Pennsylvania.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-12-11 SMG Holdings

West Conshohocken, Pennsylvania, United States

SMG Holdings, Inc. is a global manager of convention centers, stadiums, arenas, theatres, performing arts centers and other venues. The company offers a comprehensive suite of services, allowing venue owners to outsource all facets of day-to-day operations, including facility staffing and training, food and beverage, event booking and management, event promotion, exhibitor services, financial management and ongoing maintenance services

Sell -