M&A Deal Summary

Novo Holdings A/S and Signet Healthcare Partners Acquire Altasciences

On February 22, 2021, corporate investor Novo Holdings A/S and growth capital firm Signet Healthcare Partners acquired life science company Altasciences from Audax Private Equity

Acquisition Highlights
  • This is Novo Holdings A/S’s 2nd and Signet Healthcare Partners’ 8th transaction in the Life Science sector.
  • This is Novo Holdings A/S’s 1st and Signet Healthcare Partners’ 1st transaction in Canada.
  • This is Novo Holdings A/S’s 1st and Signet Healthcare Partners’ 1st transaction in Quebec.

M&A Deal Summary

Date 2021-02-22
Target Altasciences
Sector Life Science
Buyer(s) Novo Holdings A/S
Signet Healthcare Partners
Sellers(s) Audax Private Equity
Deal Type Secondary Buyout
Advisor(s) Harris Williams & Co.
Rothschild Global Advisory
Edgemont Capital Partners LP (Financial)
Kirkland & Ellis (Legal)

Target

Altasciences

Laval, Quebec, Canada
Altasciences is a forward-thinking, mid-sized contract research organization offering pharmaceutical and biotechnology companies a proven, flexible approach to preclinical and clinical pharmacology studies, including formulation, manufacturing, and analytical services. Altasciences was founded in 1992 and is based in Laval, Quebec.

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Buyer(S) 2

DESCRIPTION

Novo Holdings A/S is a Danish holding company and the investment arm of the Novo Nordisk Foundation. Novo Holdings' objective is to grow the assets of the Foundation and improve the lives of people around the world. In addition to investing in equity and fixed income securities, Novo Holdings pursues direct investments in life science companies. Novo Holdings A/S was established in 1999 and is headquartered in Hellerup, Denmark.


DEAL STATS #
Overall 5 of 15
Sector (Life Science) 2 of 6
Type (Secondary Buyout) 3 of 8
State (Quebec) 1 of 1
Country (Canada) 1 of 1
Year (2021) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-11-14 WCG

Princeton, New Jersey, United States

WCG is a provider of regulatory and ethical review services for human research. The pioneer of independent ethical review, WCG continues to drive ingenuity in the clinical research space. WCG delivers transformational solutions that stimulate growth, foster compliance and maximize efficiency for those who perform clinical trials. WCG was founded in 2012 and is based in Princeton, New Jersey.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-04-26 Unchained Labs

Pleasanton, California, United States

Unchained Labs is a life science tools company focused on solving problems for biologics and gene therapy researchers. Unchained systems are used by biopharma researchers around the world to analyze and characterize large, complex molecules and to make their research jobs easier. Unchained Labs was founded in 2015 and is based in Pleasanton, California.

Sell $435M
Buyer
DESCRIPTION

Signet Healthcare Partners is a growth capital firm focused on the healthcare sector. Specific areas of interest include specialty pharmaceuticals, pharmaceutical services, medical devices, and diagnostics. Signet will consider opportunities throughout North America and Europe and looks to commit $10 to $50 million per transaction. Signet Healthcare Partners was established in 1998 and is headquartered in New York, New York.


DEAL STATS #
Overall 10 of 15
Sector (Life Science) 8 of 12
Type (Secondary Buyout) 1 of 1
State (Quebec) 1 of 1
Country (Canada) 1 of 2
Year (2021) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-08-05 RK Pharma

Pearl River, New York, United States

RK Pharma is a fully integrated generic pharmaceutical company that develops complex API and injectable finished dosage products. RK Pharma was founded in 2018 and is based in Pearl River, New York.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-04-08 Ascendia Pharmaceuticals

North Brunswick, New Jersey, United States

Ascendia Pharmaceuticals is a specialty CDMO dedicated to developing and manufacturing enhanced formulations for pre-clinical and clinical stage drug candidates and marketed drug products. Ascendia specializes in improving the solubility and bioavailability of poorly water-soluble drugs using its suite of nanotechnology platforms. Ascendia formulates products for injectable, oral, and topical routes of administration. The company has three technology platforms - EmulSol® for producing nano-emulsions, AmorSol® for creating amorphous solid dispersions, and NanoSol® for formulating nano-particles. Ascendia Pharmaceuticals was founded in 2012 and is based in North Brunswick, New Jersey.

Buy -

Seller(S) 1

SELLER

Audax Private Equity

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1999
PE ASSETS 19.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Audax Private Equity is a private equity firm focused on acquiring control positions in a variety of mid to large North American headquartered companies. The Firm segments its activities into lower middle-market and larger scale investing. Within its larger group, Audax targets profitable businesses valued up to $800 million and within its lower middle-market group, the Firm seeks companies valued up to $125 million. Sectors of interest include business services, consumer products/services, financial services, healthcare services, industrial services, software, and technology. Audax has a special interest in businesses that can benefit from a buy and build investment strategy for growth. Audax Private Equity was formed in 1999 and is based in Boston, Massachusetts.


DEAL STATS #
Overall 78 of 102
Sector (Life Science) 3 of 4
Type (Secondary Buyout) 44 of 55
State (Quebec) 1 of 1
Country (Canada) 2 of 3
Year (2021) 1 of 10
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-12 Statlab Medical Products

McKinney, Texas, United States

Statlab Medical Products is a developer and manufacturer of cost-effective histology, cytology, and immunohistochemistry diagnostic supplies. StatLab offers 1,750 of the most commonly purchased diagnostic supplies used by independent and hospital-based anatomic pathology laboratories. Statlab Medical Products was founded in 1976 and is based in McKinney, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-23 AI Fire

Long Beach, California, United States

AI Fire is a provider of fire and life safety services, including inspection, service, customized work orders, and installation for fire alarms, sprinklers, fire extinguishers, and other fire suppression systems. AI Fire was founded in 2009 and is based in Long Beach, California.

Sell -