M&A Deal Summary

GI Partners, NovaQuest and QHP Capital Acquire Clinical Ink

On August 4, 2020, private equity firms GI Partners, NovaQuest and QHP Capital acquired information technology company Clinical Ink from NovaQuest and Research Triangle Institute

Acquisition Highlights
  • This is GI Partners’ 10th, NovaQuest’s 2nd and QHP Capital’s 1st transaction in the Information Technology sector.
  • This is GI Partners’ 34th, NovaQuest’s 8th and QHP Capital’s 4th transaction in the United States.
  • This is GI Partners’ 2nd, NovaQuest’s 2nd and QHP Capital’s 1st transaction in Pennsylvania.

M&A Deal Summary
Date 2020-08-04
Target Clinical Ink
Sector Information Technology
Buyer(s) GI Partners
NovaQuest
QHP Capital
Sellers(s) NovaQuest
Research Triangle Institute
Deal Type Secondary Buyout

Target

Clinical Ink

Horsham, Pennsylvania, United States
Clinical Ink is a clinical technology company that offers data certainty from source to submission. The company's Lumenis eSource clinical technology and configurable direct data capture, eCOA, ePRO, and eConsent modules a suite of solutions for capturing and integrating electronic data from sites, clinicians, and patients at its source naturally enhances clinical trial workflow by reducing manual labor, providing anytime, anywhere data access, and saving resources as trials progress. Clinical Ink was founded in 2007 and is based in Horsham, Pennsylvania.

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Buyer(S) 3

Buyer

GI Partners

San Francisco, California, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2001
PE ASSETS 42.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

GI Partners (Global Innovation Partners) is a private equity firm focused on control oriented investments in asset-backed businesses and properties located throughout North America and Western Europe. GI looks to invest up to $1500 million in companies generating predictable, recurring cash flows; underperforming businesses with intrinsic value; and direct asset investments with operational complexity. Sectors of interest include energy, education, healthcare services, leisure, retail, logistics, media, entertainment, financial services, technology, and telecommunications. GI Partners was formed in 2001 and has offices in San Francisco, Greenwich, and Chicago.

DEAL STATS #
Overall 45 of 59
Sector (Information Technology) 10 of 15
Type (Secondary Buyout) 17 of 22
State (Pennsylvania) 2 of 4
Country (United States) 34 of 47
Year (2020) 4 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-06-02 Blue Stream Fiber

Coral Springs, Florida, United States

Blue Stream Fiber provides customers with advanced broadband and television products all over 100% gigabit-capable networks. The Company offers customers with local and high-touch customer service. Blue Stream Fiber was founded in 1978 and is based in Coral Springs, Florida.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-09-16 Sectigo

Scottsdale, Arizona, United States

Sectigo is a cybersecurity provider of digital identity solutions, including TLS/SSL certificates, DevOps, IoT, and enterprise-grade PKI management, as well as multi-layered web security. Sectigo partners with organizations of all sizes to deliver automated public and private PKI solutions for securing webservers, user access, connected devices, and applications. Sectigo was founded in 2017 and is based in Scottsdale, Arizona.

Buy -
Buyer

NovaQuest

Investor

Category Private Equity Firm
Founded 2010
PE ASSETS 3.0B USD
Size Large
Type Sector Focused
DESCRIPTION

NovaQuest Capital Management is a private equity firm focused on acquiring and investing in growth-stage middle-market healthcare companies. Specific areas of interest include life science, medical technology, healthcare/facility services, and healthcare focused IT. The Firm targets profitable companies valued up to $500 million with $20 to $100 million of revenue. NovaQuest Capital Management was established in 2000 and is based in Raleigh, North Carolina.

DEAL STATS #
Overall 9 of 14
Sector (Information Technology) 2 of 2
Type (Secondary Buyout) 2 of 2
State (Pennsylvania) 2 of 2
Country (United States) 8 of 11
Year (2020) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-12-23 InformedDNA

St. Petersburg, Florida, United States

InformedDNA is the authority on the appropriate use of genetic testing. It leverages the expertise of the largest full-time staff of independent, board-certified genetics specialists in the U.S. to help ensure health plans, hospitals, employers, clinicians, and patients all have access to the highest quality genetic services. Key offerings include clinical genetic counseling, genetic testing utilization management, genetic testing payment integrity, and expert genetics clinical trial support. InformedDNA was founded in 2007 and is based in St. Petersburg, Florida.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-10-19 Mileutis

Ness Ziona, Israel

Mileutis is a biopharmaceutical company that focuses on the discovery, development, and commercialization of novel and biologically sourced. The company has developed a line of biopharmaceuticals that are revolutionizing the way veterinarians treat a wide range of diseases. Mileutis is based in Ness Ziona, Israel.

Buy -
Buyer

QHP Capital

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2022
Size Middle-Market
Type Sector Focused
DESCRIPTION

QHP Capital is a private equity firm focused on healthcare businesses in the middle-market. Specific areas of interest include tech-enabled life sciences and pharma service companies. The Firm seeks to partner with management teams in founder or family-owned companies, and invests in buyouts and other transaction types. QHP Capital was founded in 2022 and is headquartered in Raleigh, North Carolina.

DEAL STATS #
Overall 4 of 11
Sector (Information Technology) 1 of 2
Type (Secondary Buyout) 2 of 3
State (Pennsylvania) 1 of 1
Country (United States) 4 of 11
Year (2020) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-12-23 InformedDNA

St. Petersburg, Florida, United States

InformedDNA is the authority on the appropriate use of genetic testing. It leverages the expertise of the largest full-time staff of independent, board-certified genetics specialists in the U.S. to help ensure health plans, hospitals, employers, clinicians, and patients all have access to the highest quality genetic services. Key offerings include clinical genetic counseling, genetic testing utilization management, genetic testing payment integrity, and expert genetics clinical trial support. InformedDNA was founded in 2007 and is based in St. Petersburg, Florida.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-19 CoreRx

Clearwater, Florida, United States

CoreRx is a provider of clinical and commercial CDMO services to a wide range of small to mid-sized pharmaceutical and biotech clients. CoreRx was founded in 2006 and is based in Clearwater, Florida.

Buy -

Seller(S) 2

SELLER

NovaQuest

Investor

Category Private Equity Firm
Founded 2010
PE ASSETS 3.0B USD
Size Large
Type Sector Focused
DESCRIPTION

NovaQuest Capital Management is a private equity firm focused on acquiring and investing in growth-stage middle-market healthcare companies. Specific areas of interest include life science, medical technology, healthcare/facility services, and healthcare focused IT. The Firm targets profitable companies valued up to $500 million with $20 to $100 million of revenue. NovaQuest Capital Management was established in 2000 and is based in Raleigh, North Carolina.

DEAL STATS #
Overall 2 of 3
Sector (Information Technology) 1 of 1
Type (Secondary Buyout) 1 of 1
State (Pennsylvania) 1 of 1
Country (United States) 2 of 3
Year (2020) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-12-23 InformedDNA

St. Petersburg, Florida, United States

InformedDNA is the authority on the appropriate use of genetic testing. It leverages the expertise of the largest full-time staff of independent, board-certified genetics specialists in the U.S. to help ensure health plans, hospitals, employers, clinicians, and patients all have access to the highest quality genetic services. Key offerings include clinical genetic counseling, genetic testing utilization management, genetic testing payment integrity, and expert genetics clinical trial support. InformedDNA was founded in 2007 and is based in St. Petersburg, Florida.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-10-19 Mileutis

Ness Ziona, Israel

Mileutis is a biopharmaceutical company that focuses on the discovery, development, and commercialization of novel and biologically sourced. The company has developed a line of biopharmaceuticals that are revolutionizing the way veterinarians treat a wide range of diseases. Mileutis is based in Ness Ziona, Israel.

Buy -
SELLER

Research Triangle Institute

Research Triangle Park, North Carolina, United States
Category Company
Founded 1958
Sector Business Services
DESCRIPTION

RTI International is a nonprofit research institutes, dedicated to improving the human condition by turning knowledge into practice.

DEAL STATS #
Overall 3 of 3
Sector (Information Technology) 1 of 1
Type (Secondary Buyout) 1 of 1
State (Pennsylvania) 1 of 1
Country (United States) 3 of 3
Year (2020) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-04-06 Medical Data Analytics

Parsippany, New Jersey, United States

Medical Data Analytics is a provider of real-world evidence (RWE) generation to the pharmaceutical and biotechnology industry. Medical Data Analytics is based in Parsippany, New Jersey.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-10-31 MGS Engineering Consultants

Olympia, Washington, United States

MGS Engineering Consultants specializes in applications of surface water hydrology using deterministic, probabilistic, and risk-based approaches. MGS Engineering Consultants is based in Olympia, Washington.

Buy -
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