M&A Deal Summary

PPD Acquires Synexus

On June 6, 2016, PPD acquired information technology company Synexus from Lloyds TSB Development Capital for 178M GBP

Acquisition Highlights
  • This is PPD’s 1st transaction in the Information Technology sector.
  • This is PPD’s largest (disclosed) transaction.
  • This is PPD’s 1st transaction in the United Kingdom.

M&A Deal Summary

Date 2016-06-06
Target Synexus
Sector Information Technology
Buyer(s) PPD
Sellers(s) Lloyds TSB Development Capital
Deal Type Add-on Acquisition
Deal Value 178M GBP

Target

Synexus

Chorley, United Kingdom
Synexus Ltd. is a global patient enrolment and investigator site management organisations (SMO). It enrols and manages patients for large, complex clinical trials on behalf of a number of leading international pharmaceutical, biotechnology and contract research organisations.

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Buyer(S) 1

Buyer

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 7 of 8
Sector (Information Technology) 1 of 2
Type (Add-on Acquisition) 7 of 7
Country (United Kingdom) 1 of 1
Year (2016) 1 of 2
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-08-27 Acurian

Horsham, Pennsylvania, United States

Acurian is a provider of clinical trial patient enrollment and retention solutions for the life sciences industry.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-09-06 Evidera

Bethesda, Maryland, United States

Evidera engages in generating and communicating evidence of product value to inform health care system decisions. For over 30 years, the experts at Evidera have provided health economic, outcomes research, market access, data analytics and epidemiology services and products to life sciences organizations.

Buy -

Seller(S) 1

SELLER

Lloyds TSB Development Capital

London, United Kingdom

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1981
PE ASSETS 2.0B USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Lloyds TSB Development Capital Ltd (LDC) is the private equity arm of Lloyds Banking Group Plc and invests in mid-market companies throughout the UK. LDC seeks high growth businesses with at least two years of profitability (greater than £1 million). The Firm looks to commit £2 to £100 million in companies generating at least £5 million in revenue. Areas of interest include cleantech/environmental, construction/property, financial services, healthcare, industrials, retail/consumer, support services, TMT and travel/leisure. Prospective transaction types includes acquisition financings, development capital, equity release, MBOs, MBIs, mergers, private placements, and secondary buy-outs. Lloyds TSB Development Capital Ltd was formed in 1981 and is based in London.


DEAL STATS #
Overall 100 of 192
Sector (Information Technology) 4 of 15
Type (Add-on Acquisition) 48 of 92
Country (United Kingdom) 97 of 186
Year (2016) 8 of 13
Size (of disclosed) 7 of 61
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-05-31 CMS Group

Cumbernauld, United Kingdom

CMS Group designs, manufactures and installs energy-efficient and environmentally-friendly products, including PVCu, aluminum and timber composite, windows, doors and curtain walling systems. CMS Group was founded in 2006 and is based in Cumbernauld, United Kingdom.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-06-08 ADEY Innovation

Stonehouse, United Kingdom

ADEY Innovation Ltd. specializes in the design, manufacture, and supply of innovative products and services that significantly improve the effectiveness of domestic and commercial heating and cooling systems and water treatment systems. ADEY Innovation was formed in 2003 and is based in Stonehouse, United Kingdom.

Buy -