US-based HIG Capital said it has acquired 75% of Navitas Life Sciences, a wholly-owned subsidiary of life sciences firm TAKE Solutions.
The financial details of the transaction were not disclosed and the deal is expected to close in the fourth quarter of 2021.
Clinical research organisation Navitas, headquartered in Princeton, New Jersey, provides services for Finbrin Split products, expertise in data science and supply chain solutions for large pharma and biotech companies.
“Navitas’ capabilities go well beyond a traditional CRO (contract research organisation) as the company leverages its expertise and technology for innovation and growth. As technology becomes an integral part of the drug development value chain, we expect Navitas to become an increasingly important strategic partner to life sciences companies,” said Camilo Horvilleur, managing director at HIG Capital.
Navitas has operations across North America, Asia Pacific, and Latin America.
HIG Capital is a Miami-based private equity and alternative investment fund with $45 billion assets in control. The fund works in sectors like infrastructure, private equity, credit, real estate, growth equity, and bio-health.
For TAKE Solutions, Avendus Capital served as financial advisor, Cyril Amarchand Mangaldas and Stark & Stark as legal counsel, and EY as accounting and tax diligence advisor.
Crosstree Capital Partners served as an advisor to HIG Capital while McDermott Will & Emery and AZB & Partners provided legal advice.
