M&A Deal Summary

Ampersand Capital Partners and GHO Capital Partners Acquire Avid Bioservices

On November 6, 2024, growth capital firm Ampersand Capital Partners and private equity firm GHO Capital Partners acquired life science company Avid Bioservices for 1.1B USD

Acquisition Highlights
  • This is Ampersand Capital Partners’ 42nd and GHO Capital Partners’ 14th transaction in the Life Science sector.
  • This is Ampersand Capital Partners’ and GHO Capital Partners’ largest (disclosed) transaction.
  • This is Ampersand Capital Partners’ 68th and GHO Capital Partners’ 9th transaction in the United States.
  • This is Ampersand Capital Partners’ 12th and GHO Capital Partners’ 3rd transaction in California.

M&A Deal Summary

Date 2024-11-06
Target Avid Bioservices
Sector Life Science
Buyer(s) Ampersand Capital Partners
GHO Capital Partners
Deal Type Going Private
Deal Value 1.1B USD
Advisor(s) Moelis & Co. (Financial)
Cooley (Legal)

Target

Avid Bioservices

Tustin, California, United States
Avid Bioservices is a CDMO focused on development and CGMP manufacturing of biologics. The Company provides a comprehensive range of process development, CGMP clinical and commercial manufacturing services for the biotechnology and biopharmaceutical industries. Avid Bioservices is based in Tustin, California.

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Buyer(S) 2

Buyer

Ampersand Capital Partners

Wellesley, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Growth Capital Firm
Founded 1988
PE ASSETS 3.0B USD
Size Large
Type Sector Focused
DESCRIPTION

Ampersand Capital Partners is a middle-market private equity group that concentrates on growth equity investment opportunities in the healthcare sector. The Firm looks to invest $10 to $100 million in businesses with $10 to $100 million of revenue. Specific areas of interests within healthcare include lab products, specialty diagnostic equipment, pharmaceutical outsourcing, and specialty pharma. Ampersand generally prefers to be the first and sole institutional investor. Ampersand was formed in 1988 and is based in Wellesley, Massachusetts.


DEAL STATS #
Overall 83 of 84
Sector (Life Science) 42 of 43
Type (Going Private) 2 of 2
State (California) 12 of 12
Country (United States) 68 of 69
Year (2024) 4 of 5
Size (of disclosed) 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-11-04 Nektar - Commercial PEGylation Reagent Manufacturing Business

Huntsville, Alabama, United States

Nektar's Commercial PEGylation Reagent Manufacturing Business site is a 124,000-square-foot, commercial-scale specialized manufacturing facility. Nektar's Commercial PEGylation Reagent Manufacturing Business is based in Huntsville, Alabama.

Buy $90M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-12-02 Gannet BioChem

Huntsville, Alabama, United States

Gannet BioChem is a specialty CDMO specializing in the development, scaling, and manufacturing of polyethylene glycol (PEG) reagents essential components in advanced biopharmaceutical and therapeutic products. Gannet BioChem is based in Huntsville, Alabama.

Buy -
Buyer

GHO Capital Partners

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2014
PE ASSETS 6.0B EUR
Size Mega
Type Sector Focused
DESCRIPTION

GHO Capital Partners is a private investment firm focused on the healthcare sector. The Firm will consider opportunities throughout Europe and seeks well-established, profitable businesses that have the potential to deliver a combination of double-digit top line growth, significant efficiency gains and international expansion. GHO Capital Partners was established in 2014 and is based in London, England.


DEAL STATS #
Overall 20 of 20
Sector (Life Science) 14 of 14
Type (Going Private) 1 of 1
State (California) 3 of 3
Country (United States) 9 of 9
Year (2024) 2 of 2
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-07-01 FairJourney Biologics

Porto, Portugal

FairJourney Biologics is a biologics CRO, providing integrated services across antibody discovery, engineering, and production to global biopharma. The company operates a flexible, customer-oriented ‘one-stop-shop’ approach to biologics development focused on quality, reliability, and partnership. FairJourney Biologics was founded in 2012 and is based in Porto, Portugal.

Sell -