Avid Bioservices Acquired for $1.1 Billion

By Bobby Samwell • Wednesday, February 05 15:19 • Permanent Link

Avid Bioservices, a biologics Contract Development and Manufacturing Organisation (CDMO), has completed its acquisition by GHO Capital Partners LLP and Ampersand Capital Partners. This acquisition, valued at approximately $1.1 billion, has positioned Avid for significant growth, with a focus on expanding its offerings, talent investment, and geographic reach.

The company has experienced substantial growth in recent years, offering full lifecycle capabilities to its clients. With investments in its state-of-the-art facilities and expertise in bioprocess optimization, analytical testing, and regulatory compliance, Avid delivers high-quality, industry-leading complex biologics to a roster of international customers.

GHO Capital has substantial expertise in the CDMO sector and a strategy focused on expanding technological capabilities, driving acquisitions, and supporting transatlantic expansion. The completion of the acquisition marks GHO's first public to private deal and signifies its commitment to transforming CDMOs to enhance their services and market reach.

Ampersand Capital Partners, with its deep industry expertise, aims to combine its resources with Avid's established capabilities to deliver enhanced value and accelerate innovation for clients globally.

Following the completion of the transaction, Avid’s stockholders are entitled to receive $12.50 per share in cash, and the company's common stock has ceased trading and will be delisted from Nasdaq.

The acquisition was advised by William Blair as buyside financial advisers, Ropes & Gray as legal counsel, ClearView Healthcare Partners as a commercial advisor, and Alvarez & Marsal as financial advisors to GHO and Ampersand.

Avid Bioservices is now poised for rapid growth, supported by its new owners, GHO Capital and Ampersand Capital Partners, as it looks to enhance its capabilities, expand its service offerings, and deliver even greater value to its customers in the next phase of its journey. The market has reacted to these announcements by moving the company's shares 0.0% to a price of $12.49. For more information, read the company's full 8-K submission here.

The above analysis is intended for educational purposes only and was performed on the basis of publicly available data. It is not to be construed as a recommendation to buy or sell any security. Any buy, sell, or other recommendations mentioned in the article are direct quotations of consensus recommendations from the analysts covering the stock, and do not represent the opinions of Market Inference or its writers. Past performance, accounting data, and inferences about market position and corporate valuation are not reliable indicators of future price movements. Market Inference does not provide financial advice. Investors should conduct their own review and analysis of any company of interest before making an investment decision.