Arsenal Capital Partners has purchased Synchrogenix for an undisclosed amount. The New York firm is one of many PE shops benefitting from a favorable fundraising environment, and closed an $875 million fund in April 2013.
Wilmington, Del.-based Synchrogenix provides regulatory writing and related services to pharmaceutical, biotechnology and medical device companies.
Arsenal plans to merge the company into St. Louis, Mo-based Certara, a technology-enabled drug development and safety consulting business that it bought in December. Certara provides scientific information, including molecular modeling, clinical trial simulations and population-based simulations, to pharmaceutical and biotechnology companies.
"Pharmaceutical companies are looking for greater value and increased synergies from their outsourcing partners. Adding the complementary services Synchrogenix offers to the Certara portfolio will allow Certara to provide its preclinical and clinical pharmacology customers with end-to-end drug development consulting and writing services, including preparation of regulatory submissions such as the biologic license Application, investigational new drug and new drug applications," says Arsenal partner Stephen McLean.
Arsenal focuses on investing in middle-market health care, specialty industrial and financial services companies. The firm targets companies with revenues between $30 million and $400 million, and has almost $1.7 billion in capital under management.
In March, the firm bought Kel-Tech Inc., a company that provides specialty chemicals and services to the oil and gas industry. In December, Arsenal bought Flowchem Ltd., another specialty chemical provider.
Arsenal is one of many firms to close private equity funds recently, and is featured in the May issue of Mergers & Acquisitions. For more on Arsenal, see Mergers & Acquisitions video interview with partner Terrence Mullen.