PE Deals

Surge Private Equity invests in Elite Clinical Network

The transaction is valued at $200 million.

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  • MGG Investment Group LP provided the debt financing
  • Merritt Healthcare Advisors was financial advisor to ECN
  • ECN was established in 2003

Surge Private Equity has made an investment in Elite Clinical Network, which operates clinical research sites throughout California, Arizona, and Nevada. The transaction is valued at $200 million.

MGG Investment Group LP provided the debt financing. Merritt Healthcare Advisors was financial advisor to ECN, Houlihan Lokey served as diligence provider, and BakerHostetler was lead counsel to Surge.

ECN was established in 2003.

On the deal, Sanjay Gulati, a principal at Surge, said in a statement, “We are impressed with the success that management has achieved to date and are excited to partner with CEO David Wilson III to support the next phase of building a national network. With a very high new site launch growth rate, multi-decade customer relationships, strong industry tailwinds, and a significant diversified backlog, ECN is well positioned to continue its expansion as a dominant player in the clinical trial industry.”

Based in Dallas, Surge invests in growing businesses with $3 million to $30 million of EBITDA. The private equity firm was founded in 2017.