Friday, October 26, 2012
Kinderhook Industries has announced the acquisition of Radiant Research by CRA Holdings, one of its portfolio companies. The deal represents the eighth healthcare services transaction completed by Kinderhook. Financial terms of the transaction were not disclosed.
Based in Tempe, Ariz., CRA is a trial management organization (TMO) that provides phase II-IV clinical trials management services to the pharmaceutical and biotechnology industries. CRA matches pharmaceutical and biotech companies and CROs with its partner medical practices to recruit patients and conduct clinical trials. CRA has provided research services to the pharmaceutical and medical device industries since 1990 and has successfully completed over 1,800 clinical trials.
Headquartered in Cincinnati, Ohio, Radiant is a clinical R&D company serving the biopharmaceutical and medical device industries. Radiant has completed over 9,000 clinical trials across 18 therapeutic specialties.
“We are excited about the acquisition of Radiant and their team,” said Paul Cifelli, managing director at Kinderhook Industries. “The acquisition accomplishes multiple strategic objectives, including expanding our clinical expertise and breadth of therapeutic capabilities. Furthermore, the acquisition will continue to diversify our customer base and extend our geographic reach.”
>Financing for the transaction was provided by TCF Bank. Kirkland & Ellis served as legal counsel to CRA.
Founded in 2003, Kinderhook Industries is a private equity firm with $770 million of committed capital. Kinderhook primarily makes control investments in companies with transaction values of $25 million to $100 million in which the firm can achieve significant financial, operational and growth improvements. The firm targets orphaned, non-core subsidiaries of corporate parents, existing small capitalization public companies lacking institutional support and management-led recapitalizations of entrepreneur-owned companies.