22 October 2012
BDA advises ICICI Venture on sale of Radiant Research to Kinderhook’s CRA
Divested Radiant Research Inc, US-based clinical research company
Business Development Asia LLC (“BDA”) is pleased to report that its client Radiant Research, Inc. (“Radiant”) has been acquired by CRA Holdings, Inc (“CRA”), a portfolio company of New York-based private equity firm Kinderhook Industries, LLC (“Kinderhook”) for an undisclosed consideration. BDA acted as the exclusive financial advisor to Radiant Research and its shareholders, ICICI Venture Funds Management Company Limited (“ICICI Venture”) and their strategic partner.
Based in Cincinnati, Ohio, Radiant is a comprehensive site management and clinical research company offering study conduct, development and centralized patient recruitment services to the biopharmaceutical and medical device industry. Radiant is comprised of 20 wholly-owned premier clinical research centers, a full service CRO and a centralized patient recruitment division, employing over 400 clinical research professionals. Radiant has conducted more than 8,700 clinical and consumer trials over 18 therapeutic areas.
CRA is a trial management organization that provides Phase II – IV clinical trial management services to the pharmaceutical and biotechnology industries. CRA has provided research services to the pharmaceutical and medical device industries since 1990, and has successfully completed over 1,800 clinical trials. The acquisition of Radiant significantly expands CRA’s geographic presence in line with its stated strategy to consolidate the highly fragmented US site management industry.
About ICICI Venture
ICICI Venture Funds Management Company Limited (“ICICI Venture”) is a leading specialist alternative assets manager based in India. The firm is a wholly owned subsidiary of ICICI Bank, the largest private sector financial services group in India. ICICI Venture has established a successful track record of investing and nurturing companies across economic cycles and across various classes of alternative assets such as Private Equity, Real Estate and Mezzanine Finance, with Infrastructure & Special Situations being the latest additions to its spectrum of activities. www.iciciventure.com
Business Development Asia LLC (“BDA”) is a leader in cross-border investment banking. BDA advises on M&A, capital raising, and restructuring. BDA has been consistently owned and managed by the same team since 1996, and has built a track record of providing independent advice to blue-chip corporate and financial sponsor clients from North America, Europe and Asia. BDA was named Investment Banking Firm of the Year by M&A Advisor in December 2010. BDA is headquartered in New York with offices in London, Beijing, Shanghai, Hong Kong, Mumbai, Bahrain, Seoul and Tokyo. www.bdapartners.com
For more information regarding this transaction, please contact Euan Rellie or Justine Mannering in New York at +1 (212) 265-5300 or Kumar Mahtani in Mumbai at +91 (22) 6410-3804.
Divested LAP Laser to IK Investment Partners
Divested majority stake to The Longreach Group
Divested plant health business in Japan to Nisso
Divested The Ritedose Corporation to AGIC and Humanwell
Majority recapitalized by Galen Partners
Divested CMC Biologics to Asahi Glass
Acquired Graphic Controls, USA
Divested to a Japanese chemicals & life science company
Sold stake in An Giang Plant Protection to Standard Chartered
Acquired Adval Tech Medical (Suzhou) and Omni Manufacturing (Mexico)
Divested Shanghai Elsker Mother & Baby Co. Ltd to Johnson & Johnson
Divested medical supply business to Halma in the UK
Established an animal vaccine JV with Jilin Guoyuan Animal Health
Acquired Lablndia distribution business in India
Divested Swine MH vaccine business in China to Harbin Pharmaceutical group