Clairvest invests in CRO and biomaterials company Boca Biolistics

• The funds raised will be used by the company for its next phase of growth
• Going forward, Boca Biolistics will be led by two of its founders, CEO Valentin Adia and COO Michael Morris, both of whom have rolled a significant portion of their equity alongside Clairvest
• Boca represents Clairvest’s second investment in the life sciences sector

Canadian private equity firm Clairvest Group has made a $25 million investment in Boca Biolistics, a Pompano Beach, Florida-based clinical research organization and biomaterials company.

Founded in 2007, Boca is focused on the procurement, storage and sale of human biological sample used for clinical trials and diagnostic development. The funds raised will be used by the company for its next phase of growth.

Going forward, Boca will be led by two of its founders, Valentin Adia as CEO and Michael Morris, as chief operating officer, both of whom have rolled a significant portion of their equity alongside Clairvest.

Boca Biolistics represents Clairvest’s second investment in the life sciences sector.

“Our investment in Boca is the result of a multi-year domain effort in the life sciences industry and represents a compelling opportunity to back an entrepreneurial management team,” said Sebastien Dhonte, managing director of Clairvest, in a statement. “Boca plays an important role in advancing the development of novel pharmaceutical drugs and diagnostic devices and we are delighted to partner with Valentin and Michael,”

Based in Toronto, Clairvest invests its own capital and that of third parties through the Clairvest Equity Partners funds in owner-led mid-market businesses. It has more than C$3.3 billion of capital under management.