Kohlberg inks deal to acquire CRO Worldwide Clinical Trials

08 Aug 2023
www.fiercebiotech.com
AcquisitionExecutive Change
Kohlberg inks deal to acquire CRO Worldwide Clinical Trials
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Source: FierceBiotech
CRO Worldwide Clinical Trials has signed an agreement to be acquired by Kohlberg & Co. for an undisclosed price.
Kohlberg & Co. has reached a definitive agreement to acquire North Carolina-based CRO Worldwide Clinical Trials.
Although the financial terms of the deal weren’t disclosed, the sale is expected to be completed by the end of the year pending regulatory approval.
Worldwide, which is an affiliate of TJC, boasts more than 3,200 employees in about 60 countries, according to an Aug. 7 press release. The CRO is focused on cardiovascular, metabolic, neuroscience, oncology and rare diseases.
When the acquisition is completed, Matt Jennings, operating partner at Kohlberg, will assume the title of chairman of the board for Worldwide.
Jefferies acted as financial advisor to Worldwide and Kirkland & Ellis served as legal counsel to TJC and Worldwide. Centerview Partners was the financial advisor and the law firm of Paul, Weiss, Rifkind, Wharton & Garrison represented Kohlberg.
In recent months, Worldwide also inked partnerships with Every Cure and Cybin.
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