M&A Deal Summary

Avego Healthcare Capital Acquires Meridien Research

On April 16, 2018, growth capital firm Avego Healthcare Capital acquired life science company Meridien Research from Balance Point Capital Partners and Celerity Partners

Acquisition Highlights
  • This is Avego Healthcare Capital’s 3rd transaction in the Life Science sector.
  • This is Avego Healthcare Capital’s 3rd transaction in the United States.
  • This is Avego Healthcare Capital’s 1st transaction in Florida.

M&A Deal Summary
Date 2018-04-16
Target Meridien Research
Sector Life Science
Buyer(s) Avego Healthcare Capital
Sellers(s) Balance Point Capital Partners
Celerity Partners
Deal Type Secondary Buyout

Target

Meridien Research

Winter Park, Florida, United States
Meridien Research is a multi-specialty clinical research site company which conducts Phase I-IV inpatient and outpatient clinical trials for global, mid-sized pharmaceutical and biotech sponsors, as well as the largest contract research organizations (“CROs”). Meridien’s research covers more than 50 indications, with the range of therapeutic areas spanning central nervous system, mental health, neurology, metabolic and endocrine disorders and women’s health. Meridien Research was founded in 2000 and is based in Winter Park, Florida.

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Buyer(S) 1

Buyer

Avego Healthcare Capital

Investor Investor Investor Investor Investor

Category Growth Capital Firm
Founded 2015
Size Small
Type Sector Focused
DESCRIPTION

Avego Healthcare Capital is a private investment firm focused on investing in expansion stage healthcare companies. Avego has a special interest in companies that are commercializing and developing important therapeutics, medical products, and services for patients, physicians, and other customers in the US and globally. Avego Healthcare Capital was formed in 2015 and is based in Alpharetta, Georgia.

DEAL STATS #
Overall 3 of 7
Sector (Life Science) 3 of 6
Type (Secondary Buyout) 1 of 1
State (Florida) 1 of 1
Country (United States) 3 of 7
Year (2018) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-01-02 Saol Therapeutics

Roswell, Georgia, United States

Saol Therapeutics is a privately held specialty pharmaceutical company focused on providing therapies to patients with rare diseases. Saol Therapeutics has a strategic emphasis on the neurology therapeutic area. Saol Therapeutics was founded in 2015 and is based in Roswell, Georgia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-09-16 Eyevance Pharmaceuticals

Fort Worth, Texas, United States

Eyevance Pharmaceuticals is committed to developing and commercializing innovative and impactful ophthalmic products that enable optimal vision, better quality of life, and address significant unmet medical needs. Eyevance Pharmaceuticals was founded in 2017 and is based in Fort Worth, Texas.

Sell -

Seller(S) 2

SELLER

Balance Point Capital Partners

Westport, Connecticut, United States

Investor Investor Investor Investor Investor

Category Mezzanine Finance Firm
Founded 2007
PE ASSETS 1.7B USD
Size Small
Type Sector Agnostic
DESCRIPTION

Balance Point Capital Advisors is a provider of equity and debt capital to middle-market US-based companies. The Firm looks to invest $5 to $30 million in companies generating $10 $150 million in revenue. The Firm invest in the range of $15 to $75 million with and enterprise value of $10 to $150 million. Funds are used to support a variety of needs, including private equity sponsored buyouts, strategic acquisitions, refinancing's, management buyouts, leveraged recapitalizations, and growth capital financing needs. Balance Point Capital is based in Westport, Connecticut.

DEAL STATS #
Overall 6 of 16
Sector (Life Science) 1 of 1
Type (Secondary Buyout) 1 of 7
State (Florida) 1 of 1
Country (United States) 6 of 16
Year (2018) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-01-01 OnRamp Access

Austin, Texas, United States

OnRamp Access is a provider of Internet operations support and data center services in the Central Texas market. OnRamp Access was founded in 1994 and is based in Austin, Texas.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-09-05 Shift Paradigm

Austin, Texas, United States

Shift Paradigm is an operator of the full-service agency that provides true end-to-end email marketing solutions for enterprise organizations. Shift Paradigm expertise in strategy, operations, technology, creativity, analytics, deliverability, and privacy, apply proven methods to create efficient and flawless email programs that drive demonstrable bottom-line results for clients. Shift Paradigm was founded in 2010 and is based in Austin, Texas.

Buy -
SELLER

Celerity Partners

Los Angeles, California, United States

Investor Investor Investor

Category Private Equity Firm
Founded 1995
Size Small
Type Sector Agnostic
DESCRIPTION

Celerity Partners is a private equity firm that has invested equity capital in the change of control transactions of private companies. Celerity Partners typically partner with business owners to provide liquidity to entrepreneur and family-owned businesses, recapitalize existing owners of independent companies or facilitate corporate divestitures. Celerity Partners will consider investment opportunities across a wide range of industries in Healthcare, Contract Manufacturing, Energy Services, Infrastructure, and Environmental Services, and Transportation & Logistics. Celerity Partners was formed in 1995 and has offices in Los Angeles and Menlo Park.

DEAL STATS #
Overall 19 of 23
Sector (Life Science) 4 of 5
Type (Secondary Buyout) 7 of 8
State (Florida) 1 of 1
Country (United States) 17 of 21
Year (2018) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-09-19 TruFit Athletic Clubs

McAllen, Texas, United States

TruFit Athletic Clubs is an operator of an independent high-value, low-cost fitness club chain. TruFit Athletic Clubs was founded in 2006 and is based in McAllen, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-07-06 TotalCareRX

Oakland Gardens, New York, United States

TotalCareRX is a provider of specialty and long-term care pharmacy services to chronically ill patients primarily in transplant care, Cystic Fibrosis, HIV, and oncology therapeutic areas. TotalCareRX was founded in 1988 and is based in Oakland Gardens, New York.

Buy -
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