Fairmount Partners Assists Global CRO Medpace with Equity Recapitalization
- Fairmount Partners
- May 26, 2011
- 3 min read
Cincinnati, OH – May 26, 2011 – Medpace, Inc. a full-service global clinical research organization today announced a plan to complete an equity recapitalization with affiliates of CCMP Capital Advisors, LLC. This relationship will allow Medpace to add global operational depth and continue their reputation as a company well known for therapeutic and operational excellence in conducting Phase I-IV clinical studies.
“Our relationship with CCMP will bring many benefits to our customers, employees, and shareholders,” said August Troendle, President and CEO, Medpace. “The transaction will provide resources to make the strategic long-term investments that are needed to advance our leadership position, grow the core business, and expand our global reach.”
Fairmount Partners introduced the two parties, and acted as investment banker and advisor for Medpace. Neal McCarthy, Managing Director of Fairmount Partners commented that “August Troendle, and his team including Jon Isaacsohn, Weimin Gai, Susan Burwig and Evan Stein, have built one of the finest CROs in the world. We have known CCMP and its President Stephen Murray for many years, and have a deep respect for their track record of success, and their healthcare team, including Kevin O’Brien and Ryan Anderson. It is a pleasure to bring these two formidable groups together and to participate in formulating their strategy for expansion. We anticipate great things from this union.”
Medpace expects to finalize the deal in June 2011. Following the closing, CCMP will own 80% of the company and the current Medpace management team will own a 20% equity share. August J. Troendle will remain as the President and CEO and the current management team will remain in place. Medpace will continue to be headquartered in Cincinnati, OH.
About Medpace
Medpace is a leading global full-service clinical research organization providing Phase I-IV core development services for drug, biologic, and device programs. With medical and regulatory expertise in multiple therapeutic specialties, Medpace has assembled the industry’s most experienced and therapeutically focused teams to execute at every level of the company’s operations, providing complete and seamless drug development services. Medpace creates strategic partnerships with pharmaceutical and biotechnology companies to provide the most efficient and cost-effective path to drug development – from program planning and execution to product approval.
With more than 1000 employees and clinical trial experience in over 40 countries, Medpace has the global reach and capability to conduct studies and navigate regulatory requirements worldwide. In addition to Phase II-IV development services, Medpace provides Phase I / IIA clinical services from Medpace Clinical Pharmacology, central laboratory and therapeutically specialized testing from Medpace Reference Laboratories, complete bioanalytical services in all stages of drug development from Medpace Bioanalytical Laboratories, centralized imaging core laboratory management and reading from Imagepace, and medical device development from Medpace Medical Device. www.medpace.com.
About CCMP Capital Advisors, LLC
CCMP Capital Advisors, LLC specializes in upper-middle market buyouts and growth equity investments of $100 million to $500 million in the U.S. and Europe. CCMP focuses on generating alpha through the operational transformation of its portfolio companies. With offices in New York, Houston and London, CCMP invests in four primary industries: Consumer, Industrial, Energy and Healthcare. Selected investments under management include: ARAMARK Corporation, Chaparral Energy, Edwards Group, Francesca’s Collections, Generac Power Systems, Infogroup, Jetro Holdings, LHP Hospital Group and Warner Chilcott. www.ccmpcapital.com.
Principals of Fairmount Partners acted as advisors to Medpace in this transaction.
Contact
Neal McCarthy
Managing Director, Fairmount Partners