Everest Clinical, a portfolio company of Arlington Capital Partners, picked up Bulgaria-based August Research, giving the Canadian CRO a presence in Europe.
August Research has experience and infrastructure in 14 countries in Western and Eastern Europe. Through the deal, Everest will be able to provide clinical trial services (CTS) offerings and other operational capabilities to its clients, including pharma, biotech and medical device companies, in Europe, the company said in a Nov. 7 press release.
Financial details of the deal weren’t disclosed.
Dana Leff Niedzielska and Lukasz Niedzielski, August’s founders, as well as managing directors in the company’s European offices, will remain with the combined companies, Everest said.
“The acquisition of August is highly strategic for Everest as it further expands our global service offering and establishes a beachhead in one of the largest clinical trial markets in the world,” Malcolm Little, a partner at Arlington Capital, said in the release. “With the addition of several European offices to complement Everest’s existing presence in North America and Asia, Everest further engrains itself as a truly global CRO.”
Everest’s deal bucks the recent trend of Canadian CROs being the target of acquisitions versus the pursuer. In recent months, Canadian CROs Cirion Biopharma, Nucro-Technics and NuChem Sciences were snapped up in acquisition deals.