RC Capital, a healthcare-focused private equity firm, has made a recapitalization investment in Cognitive Research Corp., a therapeutically-focused contract research organization.
Headquartered in St. Petersburg, Fla., CRC focuses on the central nervous system sector. The transaction looks to allow CRC to drive its business development efforts, expand its services to better serve its customer base and build its global presence. Founders Tom Hochadel and Gary Kay, along with newly added CEO C.G. Gillooly and other members of management will retain a significant ownership position in the company.
“RCC’s expertise and network will bring additional resources and business development opportunities to CRC, and this growth-oriented transaction will help us accelerate the execution of our growing backlog,” says Hochadel.
McGuireWoods LLP provided legal counsel to RCC and Wyrick, Robbins, Yates, and Ponton LLP provided legal counsel to CRC.