Kohlberg & Co., a private equity firm, has acquired a majority stake in Worldwide Clinical Trials, a contract research organization (CRO) and an affiliate company of TJC LP.
Headquartered in Research Triangle Park, N.C., Worldwide works in partnership with biotechnology and pharmaceutical companies to create services that advance new medications. The company’s capabilities include bioanalytical laboratory services, Phase I-IV clinical trials, post-approval and real-world evidence studies. Following the sale to Kohlberg, TJC will retain a minority equity stake in the company.
“Worldwide’s business aligns with the themes we have successfully invested behind in our pharmaceutical and medical products and services industry practice, and we look forward to supporting Peter [Benton, president and co-CEO of Worldwide] and the Worldwide team with our capital base and resources to help achieve their growth goals,” states Chris Anderson, partner at Kohlberg.