M&A Deal Summary

GHO Capital Partners Acquires X-Chem

On June 3, 2020, private equity firm GHO Capital Partners acquired life science company X-Chem from PPD

Acquisition Highlights
  • This is GHO Capital Partners’ 10th transaction in the Life Science sector.
  • This is GHO Capital Partners’ 4th transaction in the United States.
  • This is GHO Capital Partners’ 1st transaction in Massachusetts.

M&A Deal Summary
Date 2020-06-03
Target X-Chem
Sector Life Science
Buyer(s) GHO Capital Partners
Sellers(s) PPD
Deal Type Divestiture
Advisor(s) BlackArch (Financial)
Latham & Watkins (Legal)

Target

X-Chem

Waltham, Massachusetts, United States
X-Chem is a biotechnology company that is a provider of DNA-Encoded Library (DEL)-based discovery services. DEL technology, allowing customers to screen billions of compounds simultaneously against a single biological target, is an innovative and high growth segment of the market as pharmaceutical companies look for access to cutting edge scientific expertise to support an increasingly challenging drug discovery process. X-Chem has established partnerships with AbbVie, Alexion, Almirall, Bristol-Myers Squibb, AstraZeneca, Bayer, Department of Defense/Harvard, Gilead, Janssen, Maruho, MD Anderson Cancer Center, Ono, Otsuka, Pfizer, Roche, Sanofi, Taiho Pharma, Vertex, and several other leading pharmaceutical companies, biotechnology organizations, and academic centers. X-Chem was founded in 2009 and is based in Waltham, Massachusetts.

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Buyer(S) 1

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 13 of 20
Sector (Life Science) 10 of 14
Type (Divestiture) 1 of 1
State (Massachusetts) 1 of 1
Country (United States) 4 of 9
Year (2020) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-01-30 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.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-04-08 Velocity Clinical Research

Durham, North Carolina, United States

Velocity Clinical Research is an integrated site organization for clinical trials, offering dedicated site capabilities to help biopharmaceutical and contract research organization customers find the right patients for their studies. Velocity Clinical Research was founded in 2017 and is based in Durham, North Carolina.

Buy -

Seller(S) 1

SELLER

PPD

Wilmington, North Carolina, United States
Category Company
Founded 1985
Sector Life Science
Employees26,000
Revenue 4.7B USD (2020)
DESCRIPTION

PPD is a global contract research organization providing drug discovery, development, and lifecycle management services. Its clients and partners primarily include pharmaceutical and biotechnology companies, in addition to medical device companies, academic institutions, and government organizations. With offices in 44 countries and more than 11,000 professionals worldwide, PPDI applies innovative technologies, therapeutic expertise, and a commitment to quality to help clients and partners accelerate the delivery of safe and effective therapeutics and maximize the returns on their R&D investments. PPD was founded in 1985 and is based in Wilmington, North Carolina.

DEAL STATS #
Overall 3 of 3
Sector (Life Science) 3 of 3
Type (Divestiture) 3 of 3
State (Massachusetts) 1 of 1
Country (United States) 3 of 3
Year (2020) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-01-28 BioDuro-Sundia

Irvine, California, United States

BioDuro-Sundia is a global life science contract research and development organization that provides biopharmaceutical clients and partners with comprehensive, fully integrated drug discovery services spanning target identification to IND filing, through to GMP manufacture of drug substance for clinical trials. BioDuro-Sundia was founded in 1996 and is based in Irvine, California.

Sell -
Mergr

Product

Company

Legal