Paris, 21 February, 2023 – Apax, a leading European private equity firm, announces the acquisition of a majority stake in Porsolt, an internationally recognized 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 multiple therapeutical areas of the global Pharma, Biotech, and research communities.
Porsolt is a pre-clinical CRO based in Laval and specialised in the evaluation of the efficacy of drugs in development (pharmacology), the effect of a biological system on a drug (pharmacokinetics) and safety pharmacology (the evaluation of the adverse effects of a drug on the biological system). It is particularly active in the fields of neurology, psychology and cognition, oncology, dermatology cardiology and pain management.
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.
The arrival of Apax as a majority 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. We are looking forward to working with Apax, an ideal partner with extensive experience and resources to help us implementing key strategies and realizing our combined vision.
Guillaume Froget, President and CEO of Porsolt SAS.
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 to move to the next level in particular through bolt-on acquisitions in Europe and in the US, and become a key industry leader
Stanislas Panhard, Partner at Apax Development.
Porsolt is the 10th investment by the Apax Development Fund I.
List of participants:
Apax Development: Stanislas Panhard, Louis de Lummen, Baudouin Delcampe and Arnaud Parry
Buyer advisors:
- M&A: Transaction R (Elena Coluccelli, Quentin Berger)
- Financing advisors: Transaction R (Gregory Fradelizi, Thomas Lenoble)
- Corporate legal team: Hogan Lovells (Stéphane Huten, Paul Leroy, Merwan Becharef)
- Tax legal team: Hogan Lovells (Thomas Claudel, Olivia Berdugo)
- Financing legal team: Hogan Lovells (Alexander Premont, Guergana Zabounova, Luc Bontoux)
- Commercial due diligence: Larka (Pierre-Anthony Brioir)
- Financial due diligence: Deloitte (Frédérique Chenevoy, Julie Demangel)
- Regulatory due diligence: Solid Drug Development (Jean-Marc Combette, Catherine Deloche)
- ESG due diligence: PwC (Alice Robineau, Benjamine Laurin)
- Financing: Tikehau Investment Managers (Marin Collet-Stevens, Guillaume Mouysset), LCL (Florian Pineau, Claire Delahaye, Florian Baudin), Crédit Mutuel (Thibaut Gasnier), Crédit Agricole (Hélène Corbin)
Vendor advisors:
- M&A: Lazard (Julien Lestrade, Frederik Rothenburger, Julien Fauconnier, Alice Boutant, Mathilde Errera)
- Legal team: McDermott, Will & Emery (Corporate: Emmanuelle Trombe, Henri Pieyre de Mandiargues, Fanny Rech, Alice Sevestre; Financing: Pierre-Arnoux Mayoly, Elizabeth Amzallag; Social: Jilali Maazouz, Abdel Abdellah, Anne-Lorraine Mereaux ; Tax: Come de Saint Vincent)
- Financial due diligence: PwC (Philippe Serzec, Louis Terrier, Gregor Harry, Alexandre Brunetti)
About Porsolt
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).
For additional information about the organization, please visit www.porsolt.com or email at contact@porsolt.com.
About Apax
Apax is one of the leading private equity firms in Europe. With 50 years of experience, Apax works with companies over the long term to make them leaders in their sector. The funds managed and advised by Apax amount to over €5 billion. These funds invest in high-growth SMEs and SMIs in four sectors of specialisation: Tech & Telecom, Services, Health and Consumer Goods.
Apax sas, based in Paris (www.apax.fr), and Apax LLP, based in London (www.apax.com), have a common history but are two independent firms.
Press contacts
For Porsolt:
David Pushett
DPushett@porsolt.com
For Apax:
Lauren Bardet
Communications Director
+33 6 16 32 72 82 / lauren.bardet@seven2.eu
Jérôme Goaër
Verbatee, +33 6 61 61 79 34 / j.goaer@verbatee.com
Valérie Sabineu
Verbatee, +33 6 61 61 76 73 / v.sabineu@verbatee.com
