M&A Deal Summary

Metalmark Capital Acquires Premier Research

On October 17, 2016, private equity firm Metalmark Capital acquired life science company Premier Research from ECI Partners, Indigo Capital and HarbourVest Partners

Acquisition Highlights
  • This is Metalmark Capital’s 3rd transaction in the Life Science sector.
  • This is Metalmark Capital’s 54th transaction in the United States.
  • This is Metalmark Capital’s 2nd transaction in North Carolina.

M&A Deal Summary
Date 2016-10-17
Target Premier Research
Sector Life Science
Buyer(s) Metalmark Capital
Sellers(s) ECI Partners
Indigo Capital
HarbourVest Partners
Deal Type Secondary Buyout

Target

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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Buyer(S) 1

Buyer

Metalmark Capital

New York, New York, United States
Category Private Equity Firm
Founded 2004
PE ASSETS 8.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Metalmark Capital is an independent private equity group focused on large company transactions in a wide range of industries. Metalmark is a hands-on investment firm looking to build long-term value in its portfolio companies. Broad areas of interest include natural resources/energy, healthcare services, industrials, food, transportation, and financial services. Metalmark was established in 2004 by the former principals of Morgan Stanley Capital Partners to manage the Metalmark Capital and Morgan Stanley Capital Partners funds. Metalmark is based in New York City.

DEAL STATS #
Overall 58 of 60
Sector (Life Science) 3 of 3
Type (Secondary Buyout) 6 of 7
State (North Carolina) 2 of 2
Country (United States) 54 of 56
Year (2016) 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-10-14 Valagro

Atessa, Italy

Valagro SpA is a provider in the production and commercialization of biostimulants and specialty nutrients for use in agricultural production, lawns, gardening and various industrial applications. Valagro also produces special ingredients for animal feed, human food, and cosmetics. Valagro was established in 1980 and is based in Atessa, Italy.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-10-19 Hoffmaster Group

Oshkosh, Wisconsin, United States

Hoffmaster Group is a designer, manufacturer and supplier of decorated, premium disposable tableware (including napkins, plates, tablecovers and placemats) sold to major consumer retail and foodservice customers. The Company is highly regarded for its design and manufacturing capabilities, providing the Company with unique growth opportunities as retailers expand their seasonal and party/life celebration planograms, and as national restaurant and hospitality chains increasingly realize the branding and cost-in-use benefits of premium disposable tableware products. Hoffmaster Group was founded in 1947 and is based in Oshkosh, Wisconsin.

Sell -

Seller(S) 3

SELLER

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 STATS #
Overall 53 of 76
Sector (Life Science) 1 of 1
Type (Secondary Buyout) 16 of 26
State (North Carolina) 1 of 1
Country (United States) 4 of 4
Year (2016) 5 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-08-05 Reed & Mackay

London, United Kingdom

Reed & Mackay delivers corporate travel and event solutions for professionals with exacting needs. Established as a family business nearly 60 years ago, Reed & Mackay is globally recognized as business travel and event solution experts. Reed & Mackay combines inspired service with state-of-the-art technology to create a level of travel management like no other and deliver value that one might not believe possible. Reed & Mackay was formed in 1962 and is based in London.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-12-07 Rhubarb

London, United Kingdom

Rhubarb is a provider of premium food and drink brand delivering high-quality food services across complementary channels at iconic venues and events. Rhubarb was founded in 1996 and is based in London, United Kingdom.

Sell -
SELLER

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 STATS #
Overall 35 of 41
Sector (Life Science) 3 of 3
Type (Secondary Buyout) 19 of 23
State (North Carolina) 1 of 1
Country (United States) 1 of 1
Year (2016) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-12-14 Spandex

Dietlikon, Switzerland

Spandex is a distributor of graphic media products and equipment & services to the signage and visual communication industry. The company offers advice and guidance, next day delivery, bespoke pricing, business growth incentives, product application training, and technical support. Spandex was formed in 1976 and is based in Dietlikon, Switzerland.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-12-19 Altares

Colombes, France

Altares is a provider of BtoB services - inter-companies data collection and management. Altares collects, collates, analyses enhance and structures data to make it "intelligible" and to turn it into a flexible decision-making tool for senior managers and executives. Altares was founded in 1949 and is based in Colombes, France.

Sell -
SELLER

HarbourVest Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1978
PE ASSETS 86.0B 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 STATS #
Overall 78 of 132
Sector (Life Science) 3 of 5
Type (Secondary Buyout) 26 of 34
State (North Carolina) 2 of 3
Country (United States) 50 of 83
Year (2016) 6 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-10-14 Allegro

Poznan, Poland

Allegro is an online marketplace in Poland that connects consumers with merchants. With more than 20 million users per month, 13 million active buyers and 125,000 merchants. Allegro offers consumers a vibrant and expansive shopping experience, and merchants excellent commercial opportunities. The group also operates Ceneo.pl - Poland’s leading online price comparison website, and eBilet – the leading event ticket sales site in Poland. Allegro was founded in 1999 and is based in Poznan, Poland.

Buy $3.3B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-11-21 Carlile Bancshares

Forth Worth, Texas, United States

Carlile Bancshares, Inc. is a provider of buying small to regional banks that are looking for shareholder alternatives. Carlile Bancshares, Inc. was established in 2009 and is headquartered in Forth Worth, Texas.

Sell $434M
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