- Also, at the close of the transaction, Matt Jennings, operating partner of Kohlberg, will become Worldwide’s board chairman
- The transaction is expected to close in the fourth quarter of 2023
- Based in Mount Kisco, New York, Kohlberg invests in the middle market
Kohlberg & Company has agreed to acquire Worldwide Clinical Trials, a Research Triangle Park, North Carolina-based pharmaceutical company. No financial terms were disclosed.
When the deal closes, Worldwide’s current backer TJC will retain a minority equity stake in Worldwide and Matt Jennings, operating partner of Kohlberg, will become Worldwide’s board chairman.
The transaction is expected to close in the fourth quarter of 2023.
“The scientific heritage runs deep at Worldwide – it’s a true competitive advantage and a key component of the breadth of services the CRO offers to its customers through its accessible team of clinicians, scientists, and researchers,” said Chris Anderson, a partner at Kohlberg in a statement. “Worldwide’s business aligns with the themes we have successfully invested behind in our Pharmaceutical & Medical Products & Services industry practice, and we look forward to supporting Peter and the Worldwide team with our capital base and resources to help achieve their growth goals.”
Jefferies LLC served as financial advisor to Worldwide and Centerview Partners LLC served as financial advisor to Kohlberg.
Worldwide is therapeutically focused on cardiovascular, metabolic, neuroscience, oncology, and rare diseases.
Based in Mount Kisco, New York, Kohlberg invests in the middle market.