M&A Deal Summary

The Carlyle Group, GTCR, HarbourVest Partners and Bourne Partners Strategic Capital Acquire Curia

On June 6, 2017, private equity firms The Carlyle Group, GTCR, HarbourVest Partners and Bourne Partners Strategic Capital acquired life science company Curia

Acquisition Highlights
  • This is The Carlyle Group’s 8th, GTCR’s 7th, HarbourVest Partners’ 7th and Bourne Partners Strategic Capital’s 1st transaction in the Life Science sector.
  • This is The Carlyle Group’s 286th, GTCR’s 97th, HarbourVest Partners’ 95th and Bourne Partners Strategic Capital’s 2nd transaction in the United States.
  • This is The Carlyle Group’s 18th, GTCR’s 9th, HarbourVest Partners’ 10th and Bourne Partners Strategic Capital’s 1st transaction in New York.

M&A Deal Summary

Date 2017-06-06
Target Curia
Sector Life Science
Buyer(s) The Carlyle Group
GTCR
HarbourVest Partners
Bourne Partners Strategic Capital
Deal Type Going Private
Advisor(s) Credit Suisse Investment Banking (Financial)
Goodwin Procter (Legal)

Target

Curia

Albany, New York, United States
Curia is a provider of global contract research and manufacturing services to the pharmaceutical and biotechnology industries. The company's services include drug discovery, such as medicinal chemistry, discovery biology, and in vitro ADME, development, such as pre-formulation, formulation and validation and manufacturing, such as CGMP API manufacturing. Curia was founded in 1991 and is based in Albany, New York.

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Buyer(S) 4

Buyer

The Carlyle Group

Washington, District of Columbia, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1987
PE ASSETS 435.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
Carlyle's corporate headquarters on Pennsylvania Ave. in Washington, DC.
Carlyle's corporate headquarters on Pennsylvania Ave. in Washington, DC.

The Carlyle Group is a global investment firm that pursues private equity, credit, and real estate investments worldwide. Carlyle's private equity practice practice pursues buyouts, strategic minority equity investments, equity private placements, consolidations and buildups, and growth capital financings. With offices in 19 countries, Carlyle can easily target opportunities throughout North America, Europe, Asia, Australia, the Middle East/North Africa and Latin America. Broad sectors of interest include aerospace, defense, automotive and transportation, consumer, retail, energy and power, financial services, healthcare, industrial, infrastructure, technology services, business services, telecommunications and media. The Carlyle Group was formed in 1987 and is based in Washington DC.


DEAL STATS #
Overall 588 of 744
Sector (Life Science) 8 of 19
Type (Going Private) 31 of 35
State (New York) 18 of 24
Country (United States) 286 of 349
Year (2017) 8 of 29
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-05-18 McCauley

Dublin, Ireland

McCauley operates 35 stores nationwide on high streets, in shopping centers, retail parks, and medical centers that are focused on Health, Wellness, and Beauty and are renowned for their premium brands, high levels of staff training and excellent customer service. McCauley was founded in 1953 and is based in Dublin, Ireland.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-06-08 iNova Pharmaceuticals

Singapore, Singapore

iNova Pharmaceuticals is a developer and marketer of over-the-counter and prescription medicines. iNova Pharmaceuticals was founded in 1958 and is based in Singapore.

Buy $930M
Buyer

GTCR

Chicago, Illinois, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1980
PE ASSETS 15.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

GTCR is a private equity firm that typically partners with management when pursuing acquisitions. The Firm looks to grow companies through build-on acquisitions, consolidations, and internal growth. GTCR will consider both equity and mezzanine capital commitments and concentrates its investment activity in consumer products & services, healthcare services, outsourced business services, technology, transaction processing, and pharma/medical products. GTCR was formed in 1980 and is based in Chicago, Illinois.


DEAL STATS #
Overall 101 of 142
Sector (Life Science) 7 of 9
Type (Going Private) 5 of 8
State (New York) 9 of 12
Country (United States) 97 of 137
Year (2017) 4 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-06-02 Paya

Dunwoody, Georgia, United States

Paya is a provider of payment processing and merchant-acquiring solutions in North America. The company provides credit card, ACH, check, gift, and loyalty card processing services to small and medium-sized businesses in the United States and Canada. Paya's payment solutions integrate with merchants' business management software solutions and enable them to securely accept electronic payments through multiple channels, including card-present, e-commerce, and mobile. Through the Company's EFT subsidiary, Paya offers specialized ACH processing services to merchants, processors, and other businesses. It serves a diversified client base of approximately 100,000 SMBs including healthcare providers, non-profit and faith-based organizations, and accounting software companies. Paya is based in Dunwoody, Georgia.

Buy £202M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-06-07 GreatCall

San Diego, California, United States

GreatCall, Inc. is a provider of connected health and personal emergency response services (PERS) for active aging, serving over 800,000 subscribers across the United States. GreatCall's product offering includes senior-friendly hardware combined with one-touch connectivity to trained agents who can answer questions, dispatch emergency personnel, connect to family caregivers and provide additional concierge services. GreatCall is headquartered in San Diego, California.

Buy -
Buyer

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 157 of 223
Sector (Life Science) 7 of 8
Type (Going Private) 20 of 27
State (New York) 10 of 10
Country (United States) 95 of 134
Year (2017) 5 of 15
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-05-19 Polynt

Scanzorosciate, Italy

Polynt engages in the research and development, manufacture, and sale of specific polymer chemical intermediates, catalysts, and compounds. Polynt was founded in 1955 and is based in Scanzorosciate, Italy.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-06-20 Investment Metrics

Norwalk, Connecticut, United States

Investment Metrics is a provider of investment performance analytics and reporting solutions for institutional consultants, asset managers, and private wealth advisors. Built by institutional investment consultants for investment professionals, the company’s solutions include PARis (performance analytics and reporting), InvestWorks (manager search and due diligence), EQuest (manager data portal), peer universe data, outsourced reporting services and InterSec Research for market intelligence. The company's solutions enable investment professionals to analyze, measure, and report client portfolios in a highly insightful, accurate, and efficient manner. Investment Metrics was formed in 2010 and is based in Norwalk, Connecticut.

Buy -
DESCRIPTION

Bourne Partners Strategic Capital is the direct investment arm of financial advisory firm Bourne Partners. Strategic Capital looks to partner with other sponsors and management teams to pursue investment opportunities in the pharmaceutical and consumer health sectors. The Group targets a variety of investment situations and will consider transactions valued between $50 million and $1 billion. Bourne Partners Strategic Capital is based in Charlotte, North Carolina.


DEAL STATS #
Overall 2 of 5
Sector (Life Science) 1 of 4
Type (Going Private) 1 of 1
State (New York) 1 of 1
Country (United States) 2 of 3
Year (2017) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-08-01 WellDyneRx

Lakeland, Florida, United States

WellDyneRx is a full-service pharmacy benefit manager. WellDyne excels at developing innovative and integrated health care solutions that enhance value for employers, health plans and members. The company’s unique approach to plan management enables it to provide its clients with the strategic business advantages they require to excel in today's dynamic health care environment. WellDyneRx takes an active interest in understanding clients' and members' health care goals, anticipating their needs and exceeding their expectations. WellDyneRx was founded in 1990 and is based in Lakeland, Florida.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-06-08 iNova Pharmaceuticals

Singapore, Singapore

iNova Pharmaceuticals is a developer and marketer of over-the-counter and prescription medicines. iNova Pharmaceuticals was founded in 1958 and is based in Singapore.

Buy $930M