Buyout (LBO, MBO, MBI) • Life Science

ECI Partners, Indigo Capital and HarbourVest Partners Acquire Premier Research

On March 1, 2008, private equity firm ECI Partners, mezzanine finance firm Indigo Capital and private equity firm HarbourVest Partners acquired life science company Premier Research

Acquisition Context
  • This is ECI Partners’ 1st, Indigo Capital’s 2nd and HarbourVest Partners’ 4th transaction in the Life Science sector.
  • This is ECI Partners’ 2nd, Indigo Capital’s 1st and HarbourVest Partners’ 42nd transaction in the United States.
  • This is ECI Partners’ 1st, Indigo Capital’s 1st and HarbourVest Partners’ 2nd transaction in North Carolina.
Investment Fate
  • Premier Research was sold to a consortium of financial buyers in 2016.

Explore All 460 Buyout (LBO, MBO, MBI) Life Science Deals - Search the Database Free


M&A Deal Summary

Date March 1, 2008
Target Premier Research
Sector Life Science
Buyer(s) ECI Partners
Indigo Capital
HarbourVest Partners
Deal Type Buyout (LBO, MBO, MBI)

Target Company

Premier Research

Morrisville, North Carolina, United States
Premier Research is a clinical development service provider that helps highly innovative biotech and specialty pharma companies transform breakthrough ideas into reality. The company has a wealth of experience in the execution of global, regional, and local clinical development programs with a special focus on addressing unmet needs in areas such as neuroscience, oncology, pediatric, and rare disease. Premier Research was founded in 1989 and is based in Morrisville, North Carolina.
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Buyers Overview 3

Buyer

ECI Partners

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1976
PE ASSETS 2.0B GBP
Size Large
Type Sector Agnostic
DESCRIPTION

ECI Partners is a private equity firm focused on the smaller middle-market company that invests in growing businesses valued up to £300m. ECI looks for UK businesses or businesses with a substantial presence in the UK. Funds are generally used to support expansion, acquisitions, management buyouts, buy-ins, turnarounds, and refinancing. Target sectors include IT services, support services, Insurance, and SME services. ECI will not invest in early-stage companies. ECI Partners was formed in 1976 and has offices in London, Manchester, and New York.


Deal Context for Buyer #
Overall 34 of 78
Sector: Life Science 1 of 1
Type: Buyout (LBO, MBO, MBI) 26 of 34
State: North Carolina 1 of 1
Country: United States 2 of 3
Year: 2008 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-02-01 AKW

Droitwich Spa, United Kingdom

AKW is a supplier of high-quality showering, daily living, sanitary ware, and kitchen solutions for inclusive living with 30 years of experience in the special needs market. AKW was founded in 1982 and is based in Droitwich Spa, United Kingdom.

Buy £85M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-12-23 Racal Acoustics

London, United Kingdom

Racal Acoustics Ltd., is a provider in the design and manufacture of communications headsets, handsets and audio ancillaries for military applications serving over 100 armed forces branches in 80 countries.

Sell $115M
Buyer

Indigo Capital

London, United Kingdom

Category Mezzanine Finance Firm
Founded 1990
PE ASSETS 1.6B EUR
Size Large
Type Sector Agnostic
DESCRIPTION

Indigo Capital is a provider of mezzanine capital to help fund buyouts, corporate acquisitions, expansions, and recapitalizations. Indigo typically invests alongside other private equity firms, however the Firm invests independently as well. Indigo is active throughout Europe and looks to commit €10 to €100 million per transaction. Indigo is sector agnostic and generally backs businesses with 'established market positions, strong, ambitious and incentivized management and attractive growth prospects.' Indigo Capital raised its first fund in 1990. The Firm has offices in London and Paris.


Deal Context for Buyer #
Overall 30 of 46
Sector: Life Science 2 of 3
Type: Buyout (LBO, MBO, MBI) 21 of 27
State: North Carolina 1 of 1
Country: United States 1 of 1
Year: 2008 2 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-02-14 Carat Security Group

Liege,

The Carat Security Group was formed in February, 2008 as the world's two premier mobile armor manufacturers, Carat Duchatelet and Centigon, combined to form the world's largest commercial armored vehicle provider, operating seven factories worldwide, serving every continent.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-04-07 Flabeg

Nuremburg, Germany

Flabeg Deutschland GmbH is a supplier of high-performance automotive glass products. Flabeg develops optimum solutions for the widest range of glass and mirror applications worldwide and is the world’s leading manufacturer of mirrors for the automotive industry.

Sell -
Buyer

HarbourVest Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1978
PE ASSETS 147.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

HarbourVest Partners, LLC is an investment firm that makes investments in new private equity partnerships, acquires secondary interests, and makes direct investments in operating companies. HarbourVest's largest investment area is investments in private equity funds, comprising of approximately 2/3 of HarbourVest's assets. HarbourVest's direct investment group looks for investments in growth oriented businesses at a variety of stages. The Group generally targets co-investments of $5 to $100 million, growth capital financings of $5 to $40 million, or mezzanine commitments of $5 to $20 million. Sectors of interest include software, hardware, data communications, telecommunications, and financial services. HarbourVest was formed in 1997 to assume the business of Hancock Venture Partners which was formed in 1982. HarbourVest Partners is based in Boston, Massachusetts, with additional offices in London, Tokyo, and Hong Kong.


Deal Context for Buyer #
Overall 67 of 214
Sector: Life Science 4 of 7
Type: Buyout (LBO, MBO, MBI) 13 of 41
State: North Carolina 2 of 5
Country: United States 42 of 130
Year: 2008 5 of 13
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-02-01 Infinite Electronics

Irvine, California, United States

Infinite Electronics is a supplier of engineering-grade radio-frequency technology products, operating under its proprietary brands for a global engineering base. IRF serves the high urgency, technical needs segment of the global RF component market, and differentiates itself through a broad selection of RF components available for same-day shipping, custom cable design and assembly capabilities for 250,000+ unique configurations, and significant technical expertise in bringing new products to the market and providing solutions for R&D engineers. Infinite Electronics was formed in 1972 and is based in Irvine, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-03-16 EPAC Technologies

San Leandro, California,

EPAC provides On-demand printing and publication services

Buy $20M