Investment Summary

Water Street Healthcare Partners and JLL Partners Invest In Allucent

On November 28, 2018, private equity firms Water Street Healthcare Partners and JLL Partners invested in business services company Allucent

Investment Highlights
  • This is Water Street Healthcare Partners’ 4th and JLL Partners’ 3rd transaction in the Business Services sector.
  • This is Water Street Healthcare Partners’ 36th and JLL Partners’ 30th transaction in the United States.
  • This is Water Street Healthcare Partners’ 3rd and JLL Partners’ 3rd transaction in North Carolina.

Investment Summary
Date 2018-11-28
Target Allucent
Sector Business Services
Investor(s) Water Street Healthcare Partners
JLL Partners
Deal Type Growth Capital

Target

Allucent

Cary, North Carolina, United States
Allucent is a provider of solutions that support life science organizations with advancing drug development. Allucent offers a range of services including regulatory strategy and submissions, project management, medical writing, biostatistics, data management, pharmacokinetics, pharmacovigilance, quality assurance, and trial management. Allucent was founded in 1988 and is based in Cary, North Carolina.

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Investor(S) 2

Investor

Water Street Healthcare Partners

Chicago, Illinois, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2005
PE ASSETS 6.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

Water Street is a specialist private equity firm that targets investments in healthcare companies. Specific areas of interest within healthcare include diagnostic devices, medical products, pharmaceutical services, specialty distribution, specialty pharmaceuticals, and specialty services. Water Street targets non-core units of larger corporations and private middle-market companies. Transactions are typically valued between $50 and $500 million. Water Street does not invest in biotechnology, traditional healthcare facilities (hospitals, nursing homes) or early-stage companies without positive cash flow. Water Street was formed in 2005 and is based in Chicago, Illinois.

DEAL STATS #
Overall 37 of 50
Sector (Business Services) 4 of 6
Type (Growth Capital) 8 of 17
State (North Carolina) 3 of 5
Country (United States) 36 of 47
Year (2018) 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-10-16 Discovery Life Sciences

Huntsville, Alabama, United States

Discovery Life Sciences is a provider of biospecimen analysis, procurement, distribution, and genomic, cell-based and histology-based scientific services for the pharmaceutical, biotechnology, and diagnostics industries. HudsonAlpha Discovery is Discovery’s sequencing and bioinformatics division, a globally recognized service laboratory that leverages the most current genomic research technologies to comprehensively support discovery, translational, and clinical research. Discovery Life Sciences was founded in 2018 and is based in Huntsville, Alabama.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-01-01 Long Grove Pharmaceuticals

Rosemont, Illinois, United States

Long Grove Pharmaceuticals is a specialty pharmaceutical company focused on complex generics including injectables and topical products. Long Grove stands out for its strength in addressing generic development opportunities with complex formulations, challenging manufacturing and supply chain dynamics, and uncommon regulatory approval pathways in niche markets. Long Grove Pharmaceuticals was founded in 2019 and is based in Rosemont, Illinois.

Buy -
Investor

JLL Partners

New York, New York, United States

Investor Investor Investor Investor

Category Private Equity Firm
Founded 1988
PE ASSETS 5.8B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

JLL Partners, Inc. is a private equity investment firm that invests alongside management in middle-market companies. JLL prefers control investments in sectors such as healthcare services, medical products, food and consumer products, chemicals, broadcasting, transportation, automotive, industrial manufacturing, and distribution. In addition to traditional buyout transaction, JLL also seeks distressed/turnaround situations. JLL Partners was formed in 1988 and is based in New York City.

DEAL STATS #
Overall 31 of 40
Sector (Business Services) 3 of 3
Type (Growth Capital) 2 of 5
State (North Carolina) 3 of 4
Country (United States) 30 of 38
Year (2018) 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-10-01 Triplefin

Cincinnati, Ohio, United States

Triplefin LLC is a provider of integrated business process outsourcing solutions to pharmaceutical and consumer products companies. Triplefin delivers comprehensive hub services that improve patient access and adherence, including its patent-pending Rx365® suite of digital solutions. Triplefin’s programs help thousands of patients with serious diseases, offering hope and improved well-being. Its associates are dedicated to providing an empathetic, caring experience throughout a patient’s journey. The company is headquartered in Cincinnati, Ohio.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-08-27 Thread

Cary, North Carolina, United States

Thread is a provider of technology that enables virtual research approaches to modernize clinical studies and registries. Thread is based in Cary, North Carolina.

Buy -
Mergr

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