JPEL fund sells Celerion – JPEL Private Equity, which invests in a portfolio private equity funds, has announced that MTS Health Investors, LLC, a healthcare-focused private equity firm, announced that its portfolio company Celerion Holdings, Inc. is being sold to a partnership between Court Square Capital Partners and the Celerion management team, who will continue to own a minority interest in the company. JPEL held an indirect interest in Celerion.
As part of the transaction, JPEL received proceeds of approximately USD $44.5 million.
At 30 September 2017, Celerion represented 8.1% of JPEL’s private equity investments and was JPEL’s second largest underlying investment.
Celerion is a premier clinical research organization that provides comprehensive clinical trial solutions to pharmaceutical and biotechnology clients conducting early clinical research throughout North America, Europe, and Asia. The company serves its clients through a global network of facilities with a focus on applied translational medicine. MTS completed its majority investment in Celerion in October of 2014.
“We are proud to have supported and participated in Celerion’s growth and successes over the past three years,” said Curtis Lane, Senior Managing Director of MTS. “It is gratifying to see our collaboration with the Celerion team culminate in a partnership that will bring new opportunities to the Company and also deliver an outstanding return to our investors.”
“MTS has been an invaluable partner for Celerion. Their deep industry expertise and extensive network of resources were instrumental to helping us execute on our growth plan and expand our capabilities,” said Susan Thornton, CEO of Celerion. “By partnering with Court Square, we will continue to provide unmatched service to our existing customers, drive value to our clients and pursue additional growth opportunities.”
Lazard Middle Market LLC served as sole financial advisor, and McDermott Will & Emery LLP served as legal advisor to Celerion on the transaction.
JPEL : JPEL fund sells Celerion