Non-public fairness firm Avista Capital Companions has acquired Taconic Biosciences, a supplier of genetically engineered analysis fashions (GEMs) and associated providers, from H.I.G. Capital.
Transaction phrases weren’t disclosed.
Based in 1952 and headquartered in Rensselaer, N.Y., Taconic makes a speciality of genetically engineered analysis fashions and providers, particularly murine fashions to be used in drug discovery analysis and non-clinical security testing. Taconic sells throughout 4 major product and repair classes: GEMs, customary fashions, colony administration, and customized mannequin technology.
The corporate provides its services and products to a buyer base that features 40 of the highest 50 world pharmaceutical firms, biotech clients, contract analysis organizations and authorities and tutorial analysis establishments.
Rob Girardi, associate at Avista, mentioned: “Our acquisition of Taconic represents Avista’s ninth funding within the outsourced pharma providers sector, a testomony to the worth and progress potential we proceed to see within the house. Given Taconic’s status for high-touch consultative service, range of high-quality fashions, and confirmed observe document of innovation, we consider the corporate is poised to proceed its progress trajectory within the enticing GEMs market. We sit up for offering assist for the acceleration of Taconic’s strategic priorities.”
Garrett Lustig, principal at Avista, added: “We’re excited to associate with CEO Nancy Sandy and the crew to construct upon Taconic’s market-leading profile. Leveraging Avista’s business information, operational experience, and monetary assets, we sit up for serving to Taconic capitalize on the chance for continued natural progress and strategic acquisitions.”
Nancy Sandy, CEO of Taconic, mentioned: “Avista’s assist will allow us to offer our clients with much more enhanced therapeutic drug discovery and security testing services and products, as we’ve performed for 70 years, permitting for accelerated developments in human well being. Avista has a robust observe document of making worth for firms within the outsourced pharma providers sector, and we sit up for benefiting from the agency’s expertise and assets as we develop our firm.”