Avid Bioservices Acquired for $1.1 Billion by GHO and Ampersand

In a significant acquisition, GHO Capital Partners and Ampersand Capital Partners have purchased Avid Bioservices for $1.1 billion in an all-cash transaction. The deal, executed with the legal guidance of Ropes & Gray, was officially announced on November 6. The acquisition price of $12.50 per share presents a 13.8% premium on Avid's closing share price of $10.98 on the same day and a substantial 21.9% premium on the company's 20-day volume-weighted average share price. GHO Capital Partners, a specialist healthcare investment advisor based in London, and Ampersand Capital Partners, a middle-market private equity firm with bases in Boston and Amsterdam, are known for their growth-focused investments in the healthcare industry. Avid Bioservices is a biologics contract development and manufacturing organization that provides high-quality services to biotechnology and pharmaceutical sectors. The transaction involved a team of expert partners from Ropes & Gray, which included specialists in private equity, M&A, employment, tax, IP transactions, data privacy, FDA regulation, healthcare, anti-corruption, antitrust, foreign direct investment, and environmental law.