Cinven acquires Medpace

Cinven has acquired Medpace for $915 million. Medpace is a contract research organisation.


Cinven completes acquisition and financing of Medpace
European private equity firm Cinven today announces the completion of its acquisition
of Medpace, Inc. (‘Medpace’ or ‘the Group’), a leading contract research organisation,
for a total consideration of US$915 million.
Cinven has also completed a successful financing of Medpace comprising a
covenant-light all first lien loan structure. The Group attracted strong investor
demand in the debt syndication due to its established track record of financial
performance, outstanding cash conversion, strong management team and attractive
positioning for future growth. In 2013, Medpace generated an adjusted EBITDA of
US$94 million.
Increased R&D expenditure by the pharma and biotech industry – due to the growing
number and complexity of clinical trials – is expected to fuel strong growth in the CRO
industry. Medpace focuses on smaller pharma and biotech customers, where the
outlook for R&D expenditure is most positive.
Jefferies, Barclays, Credit Suisse, UBS and Wells Fargo arranged the financing.
For more information, please contact:
Cinven Partners LLP
Vanessa Maydon Tel. + 44 (0) 207 661 3325
FTI Consulting
Edward Bridges Tel. + 44 (0) 207 269 7147 / + 44 (0)7768 216 607
Cinven Limited
PO Box 656 Third Floor
Tudor House Le Bordage
St Peter Port Guernsey GY1 3PP
Tel +44 (0)1481 749 730
Fax +44 (0)1481 749 749
Registered Office
Warwick Court
Paternoster Square
London EC4M 7AG
Registered in England No. 2192937 Cinven Limited is authorised and regulated by the Guernsey Financial Services Commission Page 2 of 3
Notes to editors
About Cinven
· Cinven is a leading European private equity firm focused on building worldclass
· Its funds invest in six key sectors: Business Services, Financial Services,
Healthcare, Industrials, Consumer, and Technology, Media and
Telecommunications (TMT).
· Cinven funds acquire businesses that have European headquarters or
substantial European operations and which require an equity investment of
€100 million or more.
· Its European focus and expertise are complemented by an ability to capitalise
on global growth opportunities through its Asian office.
· Cinven’s healthcare investments include:
– CeramTec, a global manufacturer of high performance ceramics used
in both medical and industrial markets (June 2013)
– AMCo, an international niche pharmaceutical business (Aug/Oct 2012)
– Sebia, an in-vitro diagnostics / protein testing business (June 2010)
– Spire, a UK hospital operator (Aug 2007)
– Phadia, an in-vitro diagnostics/ allergy testing business (Jan 2007)
· To date, Cinven has invested in 11 companies in the healthcare sector
representing €2.9 billion of invested capital and has have generated returns of
2.7 x on exited transactions.
· Cinven has offices in Guernsey, London, Paris, Frankfurt, Milan, Luxembourg
and Hong Kong. Cinven Limited and Cinven Capital Management (V) General
Partner Limited are authorised and regulated by the GFSC.
· Cinven acquires successful high quality companies and, using proven value
creation strategies, works closely with these companies to help them grow.
· Cinven takes a responsible approach towards its portfolio companies, their
employees, suppliers, local communities, the environment and society.
· For more information, please visit
About Medpace
· Medpace is a global full-service clinical research organisation providing Phase
I-IV core development services for drug, biologic, and device programs.
Cinven Limited
PO Box 656 Third Floor
Tudor House