GlobeNewswire

Parexel to be Acquired by EQT Private Equity and Goldman Sachs Asset Management

Share

BOSTON and DURHAM, N.C., July 02, 2021 (GLOBE NEWSWIRE) -- Parexel, a leading global clinical research organization (CRO) focused on development and delivery of innovative new therapies to advance patient health, today announced the execution of a definitive merger agreement under which it will be acquired by EQT IX fund (“EQT Private Equity”) and the Private Equity business within Goldman Sachs Asset Management (“Goldman Sachs”) from Pamplona Capital Management LP for $8.5 billion.

“Over the past 18 months Parexel has continued its strong growth trajectory delivering on its patients-first focus and accelerating new therapies to patients in need around the world,” said Parexel CEO Jamie Macdonald. “With the market for outsourced clinical research services anticipated to grow at a conservative CAGR of 8 to 9 percent, our focus remains on advancing and innovating Parexel to meet our customers’ needs across the evolving clinical development landscape. EQT and Goldman Sachs support this vision and are committed to investing in Parexel and our people to capitalize on this exciting market opportunity and make a difference for patients.”

Eric Liu, Partner and Global Co-Head of Healthcare at EQT, commented, “We have followed Parexel closely during the past few years and have been impressed by the company’s development and trajectory. Our investment in Parexel reflects EQT’s thematic focus on the life sciences industry, as well as our commitment to partner with businesses that have a positive impact on society. We are excited to partner with Goldman Sachs for the next stage of Parexel’s journey, and to back Jamie, who prior to his role at Parexel had been a long-time senior advisor to EQT, as well as the rest of the Parexel team.”

Jo Natauri, Partner and Global Head of Private Healthcare Investing within Goldman Sachs Asset Management, commented, “We are thrilled to partner with Jamie Macdonald, the entire Parexel management team and EQT to support Parexel, which has a distinguished track record of delivering clinical excellence to their large pharma and biotech customers globally. We believe this investment will accelerate Parexel’s growth as it builds on the company’s global footprint, strong operational capabilities and expansive healthcare network.”

John Halsted, Managing Partner, Pamplona Capital Management, commented, “We’re very proud of Parexel’s progress over the past four years and the important work they do in helping bring exciting new therapies to patients in need. In particular, they successfully adapted the business to work in the midst of a global pandemic, and supported the development of therapies to combat the COVID-19 pandemic itself. We wish them every success in their next phase of growth."

“We have enjoyed our partnership with Pamplona, and thank them for their leadership and support in helping to transform Parexel under their ownership,” concluded Mr. Macdonald. “Over the past months, our ability to pivot and adapt have fostered new ways of working while developing a strong track record of quality and delivery for customers around the world. As we continue in this new era of clinical development and focus aggressively on meeting our customers’ needs for innovation in such areas as Real World Evidence, Decentralized Clinical Trials, Biostatistics and Data Management — and in key regions such as Asia/Pacific where we’re among the largest and longest-tenured CROs — we’re excited to be partnering with EQT and Goldman Sachs. We look forward to benefitting from their strong industry experience and to further accelerating Parexel as one of the world’s leading and fastest-growing CROs.”

The transaction is subject to customary conditions, including receipt of applicable regulatory approvals. Evercore acted as the financial advisor to Parexel, and Kirkland & Ellis LLP provided legal counsel in connection with the transaction. Goldman Sachs and Jefferies LLC acted as financial advisors to EQT Private Equity and Goldman Sachs Asset Management, and Simpson Thacher & Bartlett LLP provided legal counsel in connection with the transaction.

About Parexel
Parexel supports the development of innovative new medicines to improve the health of patients. We provide services to help life sciences and biopharmaceutical clients everywhere transform scientific discoveries into new treatments. From decentralized clinical trials to regulatory consulting services to leveraging real world insights, our therapeutic, technical, and functional ability is underpinned by a deep conviction in what we do. Parexel was named “Best Contract Research Organization” in December 2020 by an independent panel for Informa Pharma Intelligence. For more information, visit parexel.com and follow us on LinkedInTwitter, and Instagram.

About EQT
EQT is a purpose-driven global investment organization with more than EUR 67 billion in assets under management across 26 active funds. EQT funds have portfolio companies in Europe, Asia-Pacific and the Americas with total sales of approximately EUR 29 billion and more than 175,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership. For more information, visit www.eqtgroup.com or follow EQT on LinkedIn, Twitter, YouTube and Instagram.

About Goldman Sachs Asset Management Private Equity
Bringing together traditional and alternative investments, Goldman Sachs Asset Management provides clients around the world with a dedicated partnership and focus on long-term performance. As the primary investing area within Goldman Sachs (NYSE: GS), we deliver investment and advisory services for the world’s leading institutions, financial advisors and individuals, drawing from our deeply connected global network and tailored expert insights, across every region and market—overseeing more than $2 trillion in assets under supervision worldwide as of March 31, 2021. Driven by a passion for our clients’ performance, we seek to build long-term relationships based on conviction, sustainable outcomes, and shared success over time. Goldman Sachs Asset Management invests in the full spectrum of alternatives, including private equity, growth equity, private credit, real estate and infrastructure. Established in 1986, the Private Equity business within Goldman Sachs Asset Management has invested over $75 billion since inception. We combine our global network of relationships, our unique insight across markets, industries and regions, and the worldwide resources of Goldman Sachs to build businesses and accelerate value creation across our portfolios. Follow us on LinkedIn.

About Pamplona Capital Management
Pamplona Capital Management is a specialist investment manager established in 2005 that provides an alternative investment platform across private equity and other diversified strategies. With offices in New York, London, Madrid, and Malta, Pamplona manages over $11 billion in assets for a variety of clients including public pension funds, international wealth managers, multinational corporations, family offices, and funds of hedge funds. Pamplona invests long-term capital across the capital structure of its portfolio companies in both public and private market situations.

CONTACTS

For Parexel:
Lori Dorer
Senior Vice President, Corporate Communications
+1 513 496 8121

Lindsay LeCain
Real Chemistry
+ 1 508 259 9521

For EQT:
Daniel Yunger, Kekst CNC, + 1 917 574 8582
EQT Press Office, press@eqtpartners.com, +46 8 506 55 334

For Goldman Sachs:
Leslie Shribman
+1 212 902 5400

For Pamplona Capital Management:
Ed Orlebar, TB Cardew
ed.orlebar@tbcardew.com
+44 (0)7738724630

To view this piece of content from www.globenewswire.com, please give your consent at the top of this page.
To view this piece of content from ml.globenewswire.com, please give your consent at the top of this page.

About GlobeNewswire

GlobeNewswire
GlobeNewswire
One Liberty Plaza - 165 Broadway
NY 10006 New York

https://globenewswire.com

GlobeNewswire is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.

Subscribe to releases from GlobeNewswire

Subscribe to all the latest releases from GlobeNewswire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from GlobeNewswire

FLSmidth to acquire thyssenkrupp’s Mining business – creating a global industry leader in mining technology29.7.2021 12:39:04 CEST | Press release

Company Announcement No. 7 2021 FLSmidth and thyssenkrupp Industrial Solutions AG (a fully owned subsidiary of thyssenkrupp AG, "thyssenkrupp") have reached an agreement that FLSmidth will acquire thyssenkrupp’s Mining business1 (TK Mining) for a total consideration (enterprise value) of EUR 325 million, corresponding to approximately DKK 2.4 billion. Closing of the transaction is expected in H2 2022 and is subject to customary approvals from relevant authorities. TK Mining is a leading full-line supplier of solutions for mining systems, material handling, mineral processing and services, which is highly complementary to FLSmidth’s offering. TK Mining has an asset light business model and is present in 24 countries with engineering and global service centres, and has close to 3,400 employees. In 20202, revenue was EUR 780 million (approximately DKK 5.8 billion) with around one-third deriving from services. The business delivered a high single-digit negative EBIT margin and is expected

Millicom to repurchase own shares29.7.2021 12:02:00 CEST | Press release

Millicom to repurchase own shares Luxembourg, July 29, 2021 – On May 4, 2021, the Annual General Meeting of Shareholders (“AGM”) of Millicom resolved to authorize (the “Authorization”) the Board of Directors of Millicom (the “Board”) to adopt a share repurchase plan. Based on the Authorization, the Board has decided to initiate a repurchase program comprising not more than 5,000,000 Swedish Depository Receipts representing the Company’s ordinary shares (“SDRs”). The purposes of the share repurchase plan may include: reduction of Millicom's share capital; meeting obligations for Board remuneration; and/or meeting obligations under Millicom’s share-based incentive plans or other compensation programs. The repurchase program will be implemented in accordance with the Authorization, the Nasdaq Nordic Main Market Rulebook for Issuers of Shares (“Nasdaq Rulebook”), and applicable law including the Luxembourg law of 10 August 1915 on commercial companies, as amended, and the EU Market Abuse R

Fobi Wallet Pass For Ticketing And Global Fan Engagement Powers bdG Sports “Baha Mar Hoops” Tournament Featuring 19 NCAA Men’s And Women’s Basketball Teams, Including US Thanksgiving Nationally Televised Events29.7.2021 12:00:00 CEST | Press release

After multiple event successes with bdG Sports, Fobi is now adding ticketing and admissions capabilities to live and digital fan engagement to deliver a comprehensive solution for the “largest early season event in all of college basketball” at Baha Mar Hoops in The Bahamas VANCOUVER, British Columbia., July 29, 2021 (GLOBE NEWSWIRE) -- Fobi AI Inc. (formerly Loop Insights Inc.) (TSXV: FOBI) (OTCQB: FOBIF) (the "Company" or "Fobi"), is pleased to announce it will once again be supporting bdG Sports for college basketball’s largest early season event. The invite-only global event at Baha Mar Convention Center in Nassau, The Bahamas will take place from November 22-27, 2021 and will use Fobi’s Wallet Pass platform for ticketing, admission, and fan engagement both live and at home. Fobi will earn significant revenue from this event through the event license, ticket fees and fan activations both live and at home, including nationally televised and digital audiences across the United States

Building momentum and delivering results29.7.2021 12:00:00 CEST | Press release

Building momentum and delivering results Luxembourg, July29, 2021– Millicom is pleased to announce its second quarter 2021 results. Please find below links to the Q2 2021 Earnings Release and H1 2021 Interim Condensed Consolidated Financial Statements. Millicom Chief Executive Officer Mauricio Ramos commented: "We had an outstanding Q2. We built on our robust Q1 performance and delivered double-digit growth in both service revenue and EBITDA. In Colombia, we now have the best mobile network, and we capitalized on this in Q2 by leading the market in portability and by adding a record number of new postpaid customers. Our rapid customer and revenue growth is a direct result of our unwavering commitment to delivering the best customer experience, including network quality and reliability. With that in mind, and considering our healthy cash flow generation, we have accelerated investments that we expect will help us drive faster growth in all our businesses going forward. In light of our s

Summary of AB Klaipedos nafta webinar29.7.2021 11:30:00 CEST | Press release

On the 29th July 2021, AB Klaipedos nafta (KN) held an investor conference webinar where KN Chief Executive Officer Darius Šilenskis and acting Chief Financial Officer Indrė Kisielienė commented Company’s financial results for the six months of 2021. Webinar recording is available online at: https://youtu.be/BmHfUpOVmEM The presentation demonstrated during the webinar is attached to this announcement. Indrė Kisielienė, Acting Chief Financial Officer, +370 686 16276 Attachment KN_activity results for_2021_Q2

Correction: AB Klaipėdos nafta financial information reporting dates in 202129.7.2021 10:15:00 CEST | Press release

Correction: AB Klaipedos nafta interim financial information for the 6 months of 2021 has been released on 29 July 2021. AB Klaipėdos nafta (further – KN) informs that it plans to release financial information in 2021 according to the following schedule: DateReporting informationWithin first 5 working days of every month of 2021KN preliminary revenues for the previous month29 January 2021Interim financial information for the year 20207 April 2021Audited financial statements for the year 202030 April 2021Interim financial information for the 1st quarter of 20218 June 2021Social responsibility report for the year 202029 July 2021Interim financial information for the 6 months of 202129 October 2021Interim financial information for the 3 quarters of 2021 On 30 April 2021, the Company plans to convene an Ordinary General Meeting of Shareholders. Indrė Kisielienė, Acting Chief Financial Officer, +370 686 16276.

Hexagon Digital Wave signs new equipment and service agreement with Linde29.7.2021 09:00:00 CEST | Press release

Hexagon Digital Wave, a business of Hexagon Composites has signed an agreement with Linde, a leading industrial gas and engineering company. The agreement covers the supply and service of Ultrasonic Examination (UE) testing equipment. The estimated total value of the agreement is USD 2 million (approx. NOK 17 million) and designates Hexagon Digital Wave as a long-term partner. Driving energy transformation “We are excited to extend our relationship with the great team at Linde”, says Keith Fountain, UE international Sales Manager Hexagon Digital Wave. “Over the past 14 years we have provided our equipment to one of the market leaders in the industrial gas environment and helped to improve the safety of their cylinders.” About the market The non-destructive UE test and process enables the recertification of the cylinders without removing the internal product which improves the safety and allows a number of ESG requirements to be accomplished. Positive environmental impacts are accomplis