Personal fairness firm Avista Capital Companions has acquired Taconic Biosciences, a supplier of genetically engineered analysis fashions (GEMs) and associated companies, from H.I.G. Capital.
Transaction phrases weren’t disclosed.
Based in 1952 and headquartered in Rensselaer, N.Y., Taconic makes a speciality of genetically engineered analysis fashions and companies, particularly murine fashions to be used in drug discovery analysis and non-clinical security testing. Taconic sells throughout 4 main product and repair classes: GEMs, normal fashions, colony administration, and customized mannequin technology.
The corporate presents its services and products to a buyer base that features 40 of the highest 50 international pharmaceutical corporations, biotech clients, contract analysis organizations and authorities and tutorial analysis establishments.
Rob Girardi, companion at Avista, mentioned: “Our acquisition of Taconic represents Avista’s ninth funding within the outsourced pharma companies sector, a testomony to the worth and progress potential we proceed to see within the house. Given Taconic’s fame for high-touch consultative service, range of high-quality fashions, and confirmed monitor document of innovation, we consider the corporate is poised to proceed its progress trajectory within the engaging GEMs market. We look ahead to offering help for the acceleration of Taconic’s strategic priorities.”
Garrett Lustig, principal at Avista, added: “We’re excited to companion with CEO Nancy Sandy and the staff to construct upon Taconic’s market-leading profile. Leveraging Avista’s trade data, operational experience, and monetary assets, we look ahead to serving to Taconic capitalize on the chance for continued natural progress and strategic acquisitions.”
Nancy Sandy, CEO of Taconic, mentioned: “Avista’s help will allow us to offer our clients with much more enhanced therapeutic drug discovery and security testing services and products, as we now have accomplished for 70 years, permitting for accelerated developments in human well being. Avista has a robust monitor document of making worth for corporations within the outsourced pharma companies sector, and we look ahead to benefiting from the agency’s expertise and assets as we develop our firm.”
