Avid Bioservices Joins Forces with GHO and Ampersand for Growth
Deal News | Feb 05, 2025 | Globenewswire
GHO Capital Partners and Ampersand Capital Partners have completed their acquisition of Avid Bioservices, a biologics Contract Development and Manufacturing Organisation (CDMO), in a deal valued at approximately $1.1 billion. The acquisition aims to propel Avid's growth through expanded capabilities, increased geographic reach, and investment in talent. Avid, which has seen significant growth in recent years, will benefit from GHO's expertise in the CDMO sector and healthcare industry. The deal marks GHO's first public to private transaction and is expected to unleash significant potential for Avid in its next stage of development. The transaction was supported by advisors including William Blair, Ropes & Gray, ClearView Healthcare Partners, and Alvarez & Marsal.
Sectors
- Healthcare
- Biotechnology
- Private Equity
Geography
- United States – Avid Bioservices is based in California, where much of the biotech and healthcare industry activities occur.
- United Kingdom – GHO Capital, one of the acquiring firms, is based in London, reflecting international investment links.
- The Netherlands – Ampersand Capital has an office in Amsterdam, indicating a European presence and influence in the deal.
Industry
- Healthcare – The acquisition involves companies focused on healthcare investments, including biologics development and manufacturing services.
- Biotechnology – Avid Bioservices operates within the biotechnology sector, providing bioprocess optimization and manufacturing of biologic drugs.
- Private Equity – GHO Capital and Ampersand Capital are private equity firms involved in the acquisition, focusing on growth investments within healthcare.
Financials
- $1.1 billion – The total value of the acquisition of Avid Bioservices by GHO Capital and Ampersand Capital.
- $12.50 per share – The cash amount received by Avid Bioservices stockholders upon completion of the acquisition.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Avid Bioservices, Inc. | Target company | Company | A biologics CDMO focused on development and manufacturing services for the biotechnology and biopharmaceutical industries. |
| GHO Capital Partners LLP | Acquirer | Company | A healthcare investment advisor specializing in the healthcare sector, based in London. |
| Ampersand Capital Partners | Acquirer | Company | A middle-market private equity firm focused on growth-oriented investments in the healthcare sector. |
| William Blair | Buyside financial advisor | Company | Provided financial advice to GHO and Ampersand during the acquisition. |
| Ropes & Gray, LLP | Legal advisor | Company | Served as legal counsel to GHO and Ampersand for this acquisition. |
| ClearView Healthcare Partners | Commercial advisor | Company | Advised on the commercial aspects of the transaction. |
| Alvarez & Marsal | Financial advisor | Company | Provided financial advisory services to GHO and Ampersand. |