DURHAM, NC USA, BOSTON, MA USA & BRUSSELS, BELGIUM —
Riverside Partners, a Boston-based private equity firm today announced that its portfolio company, BioAgilytix, a leading provider of large molecule bioanalytical testing services, signed an agreement to be acquired by Cobepa S.A., a privately-held investment company.
Riverside Partners originally acquired BioAgilytix in 2013. Over the course of its investment, Riverside helped to transform the company from a founder-owned business into a recognized global leader in large molecule bioanalysis. Riverside utilized its extensive experience in the pharmaceutical services sector to assist the company in building the senior management team, adding business development capabilities, investing in laboratory infrastructure and systems, and expanding its geographic presence by acquiring IPM Biotech in Europe.
“Riverside Partners has been an outstanding partner for BioAgilytix over the last five years. The Riverside team has provided deep expertise, constant operational and strategic support, introductions to customers, and significant investment - all of which has helped us grow into a global leader within the pharma services industry. I’m grateful for their active leadership, support and partnership,” said Jim Datin, President and CEO of BioAgilytix. “With the investments made to date, we are extremely well-positioned to continue serving our clients’ evolving and expanding bioanalytical needs. Going forward, we will continue to invest in growing our talented team, expanding our advanced lab facilities in both the USA and Europe, and adding adjacent bioanalytical services that will benefit our customers.”
The Riverside team has provided deep expertise, constant operational and strategic support, introductions to customers, and significant investment - all of which has helped us grow into a global leader within the pharma services industry. Jim Datin President and CEO of BioAgilytix
“It has been extremely fulfilling to partner with BioAgilytix and help the company grow into the world-class organization it is today,” said David Belluck, General Partner, Riverside Partners. “BioAgilytix’s success is a testament to the commitment of its management team and employees to solving their customers’ unique scientific challenges. We are proud to have supported the company by significantly growing the scientific organization, meaningfully expanding laboratory capacity, broadening the customer base, completing a highly strategic European acquisition, and implementing best-in-class systems and processes.”
The transaction, which is subject to customary closing conditions and regulatory approvals, is expected to close later this month.
Wells Fargo Securities, LLC is acting as lead financial advisor to BioAgilytix. Lincoln International, LLC is also serving as a financial advisor to the company. Choate Hall & Stewart LLP is serving as legal counsel to BioAgilytix.
About Riverside Partners LLC
Founded in 1989, Riverside Partners is a middle market private equity firm currently investing Riverside Fund VI, L.P. The fund focuses on growth-oriented companies primarily in the healthcare and technology industries. Riverside Partners is particularly experienced at partnering with founders, owners and management teams and it brings substantial domain expertise and operating experience to its portfolio companies. For more information visit www.riversidepartners.com.
About BioAgilytix
BioAgilytix is a leading bioanalytical testing laboratory specializing in large molecule bioanalysis. With laboratory locations in North Carolina’s Research Triangle area and Hamburg, Germany, BioAgilytix provides PK, immunogenicity, biomarkers, and cell-based assay services supporting the development and release testing of biologics across a number of industries and disease states. BioAgilytix offers assay development, validation, and sample analysis under non-GLP, GLP, and GCP, as well as GMP quality control testing (i.e. product release testing, stability testing, etc.).
BioAgilytix’s team of highly experienced scientific and QA professionals ensures high quality science, data integrity, and regulatory compliance through all phases of clinical development, and is a trusted partner to many of the top global pharmaceutical and biotech companies. For more information, visit www.bioagilytix.com.
About Cobepa
Based in Brussels and New York, Cobepa is a privately-held investment company backed by European families. Cobepa manages a diversified portfolio of private equity investments valued at around €2.5 billion. Cobepa invests in leading companies with strong business models, sustainable market positions and strong management teams. For more information, visit www.cobepa.com.
Riverside Partners Contact:
Jon Lemelman
Partner
jlemelman@riversidepartners.com
617-351-2810