NEW YORK, NY (August 19, 2010): Avista Capital Partners, a leading private equity firm, and Ontario Teachers’ Pension Plan, through its private investor department, Teachers’ Private Capital, announced today that they have signed an agreement to acquire INC Research, Inc. from an investor group led by Crosspoint® Venture Partners and Adams Street Partners. INC Research is a privately-held, therapeutically focused global contract research organization with deep expertise in managing late stage clinical development programs. INC Research employs 2,000 people in 40 countries worldwide.
David Burgstahler, Partner and President of Avista Capital Partners, said, “Avista and our partners at Teachers’ Private Capital are delighted to add INC Research to our respective healthcare portfolios. INC Research has an excellent reputation amongst its premier customer base for quality service and therapeutic expertise, and is well positioned to continue to expand its global footprint and capabilities as a leading contract research organization. We look forward to partnering with the existing management team to support INC Research’s next phase of accelerated growth.”
“We are enthusiastic to partner with James Ogle, CEO of INC Research, and his talented management team, who have a strong track record of success,” added Neil Petroff, Teachers’ Executive Vice-President And Chief Investment Officer. “Under Mr. Ogle’s leadership, we are confident INC Research will continue to capitalize on favorable trends in the clinical development outsourcing market and utilize its global reach to enhance its market share.” READ MORE