NMS Capital Exits Investment in Flourish Research
Deal News | Nov 07, 2024 | NMS Capital
NMS Capital, a notable private equity firm, has announced its exit from its investment in Flourish Research, a leading multi-site clinical trial organization, through a sale to Genstar Capital. NMS initially formed Flourish in 2021 after investing in Clinical Trials of Texas. Over its three-year ownership, NMS supported Flourish in significant expansion and execution of a buy-and-build strategy, adding infrastructure, technology, and key personnel. Flourish's CEO, Reinhold Schulz, commented on the remarkable growth and value provided under NMS's ownership. Senior Partner at NMS, Luis Gonzalez, underscored the successful execution of their investment strategy, underpinning Flourish's transformation into a top-tier organization with substantial growth prospects under Genstar's new partnership. Key advisors and legal counsel facilitated the transaction, marking a new chapter for Flourish and its continued service to biopharma sponsors and CRO clients.
Sectors
- Healthcare Services
- Business Services
Geography
- United States – Flourish Research operates in several US states including Alabama, California, Florida, Illinois, North Carolina, Pennsylvania, Maryland, and Texas.
Industry
- Healthcare Services – The article discusses Flourish Research's role as a multi-site clinical trial organization within the healthcare sector.
- Business Services – NMS Capital's focus on investments in business services is highlighted as part of its strategy to build Flourish as a scalable clinical trial site platform.
Financials
- $1.5 billion – NMS Capital manages assets in excess of this amount.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| NMS Capital | Seller | Company | A private equity firm focused on healthcare and business services investments. |
| Flourish Research | Target Company | Company | A multi-site clinical trial organization formed by NMS Capital. |
| Genstar Capital | Buyer | Company | The new owner of Flourish Research following the exit by NMS Capital. |
| Jefferies | Financial Advisor | Company | Served as financial advisor to Flourish and NMS. |
| Cantor Fitzgerald & Co. | Financial Advisor | Company | Served as financial advisor to Flourish and NMS. |
| McDermott Will & Emery | Legal Counsel | Company | Provided legal counsel to Flourish and NMS. |
| Houlihan Lokey | Financial Advisor | Company | Served as financial advisor to Genstar. |
| Ropes & Gray LLP | Legal Counsel | Company | Provided legal counsel to Genstar. |
| Reinhold Schulz | CEO of Flourish Research | Person | Chief Executive Officer of Flourish Research. |
| Luis Gonzalez | Senior Partner at NMS Capital | Person | Senior partner at NMS Capital, commented on the strategic execution. |