Genstar Capital Buys Advarra
Posted on 06/07/2019
On June 6, 2019, private equity firm Genstar Capital acquired Advarra from Chicago-based Linden Capital Partners. Advarra is a provider of compliance solutions that are part of the drug development process. Advarra serves pharmaceutical, biotechnology, medical device and contract research organizations (CROs), as well as academic medical centers, hospital systems, investigative site networks, and therapeutic research consortia.
Advarra is headquartered in Columbia, Maryland. The company was formed through the merger of Chesapeake IRB and Schulman IRB in 2017. IRB stands for institutional review board. In March 2019, Advarra acquired Quorum Review IRB.
Advisors
Jefferies is serving as lead financial advisor and Houlihan Lokey is serving as co-financial advisor to Linden and Advarra. Kirkland & Ellis LLP is serving as legal counsel to Linden and Advarra in connection with this transaction.
Ropes & Gray LLP is serving as legal counsel to Genstar Capital.