Apax Partners, a leading European private equity firm,announced that it has acquired a majority stake in Porsolt, an internationally recognized Global CRO (Contract Research Organization).
Apax’s investment, together with the management and current shareholders of the company, will allow Porsolt to further grow and implement its strategy to become a comprehensive preclinical service company, addressing the varying therapeutical areas of the global Pharma, Biotech, and research communities.
Porsolt has been providing preclinical services for almost 40 years with 100 employees to date, and while the company has evolved organically over recent years, the support of Apax will help accelerate the hiring of key staff with a targeted 40% increase in the next 4 years, externally grow Porsolt’s broad portfolio of services – including new therapeutic areas and extend Porsolt’s global footprint and international client base.
This partnership will further enhance Porsolt’s current comprehensive service offering, while also expanding its portfolio and capabilities for drug screening, efficacy, and safety, for worldwide clients.
“The arrival of Apax as a major investor allows Porsolt to continue to provide outstanding services and quality science to our customers, while growing to meet the increased global demand for preclinical research services”, said Guillaume Froget, President and CEO of Porsolt SAS. “We are looking forward to working with Apax, an ideal partner with vast experience and resources to assist with implementing key strategies and realizing our combined vision.”
Apax has a strong track record of creating value for companies in multiple industries, including a significant focus on healthcare and related businesses.
“We are excited about our new investment, as we see Porsolt as a significant player in the preclinical service space. We look forward to supporting the team and contributing our expertise where needed, in order to help Porsolt move to the next level in particular through bolt-on acquisitions in Europe and in the US, and become a key industry leader” said Stanislas Panhard, Partner at Apax Development.
Porsolt SAS, located in Le Genest-Saint-Isle close to Laval, France, is an internationally recognized and long established global preclinical Contract Research Organization (CRO). Porsolt works with pharmaceutical and biotechnology companies, academic institutes, and not-for-profit organizations, offering specialized preclinical testing services across many disease areas, physiological systems and processes. Porsolt provides a range of services including drug discovery, screening, as well as efficacy and pharmacological safety testing, using both standardized and innovative techniques in full compliance with GLP (ICH S7).