BOSTON – (BUSINESS WIRE) – November 1, 2022 –
HIG Capital (“HIG”), a leading global alternative investment firm with a capitalization of $52 billion, is pleased to announce the sale of its portfolio company, Taconic Biosciences (“Taconic” or the “Company”) to Avista Capital Partners (“Avesta”). ). Terms of the deal were not disclosed.
Headquartered in Rensselaer, New York, and founded in 1952, Taconic is the leading global provider of mouse research models and services to the pharmaceutical, biotechnology, CRO, and academic research industries. The company specializes in genetically modified models (GEMs), precision research models, integrated model design, and colony management services.
HIG acquired Taconic in February 2019 from the company’s founders. Partnering with the HIG team, Taconic has achieved significant growth through an ongoing focus on GEMs, significant investments in improving existing facilities, as well as expansion into green fields at its Indiana facility. The company has significantly enhanced its technology capabilities across internal functions and its customer-facing platform, and has implemented numerous R&D and new product development initiatives that position the company for long-term sustainable growth.
Nancy Sandy, CEO of Taconic, said: “This is real support for our team as well as our products and services. The Taconic team has benefited from HIG’s support and partnership as we have worked towards our shared growth goals and strategic mission. Together with HIG, we have built a strong foundation for the next phase of Taconic’s evolution, We are excited to be joining Avista in that next chapter.”
John von Bargen, Managing Director of HIG Capital added: “We have an exceptional partnership with Taconic’s management team and are proud of our relationship with the company and their dedication to accelerating progress in the biopharmaceutical community. Taconic has established itself as a market leader and is well positioned to continue growing under the auspices of new sponsor Avista. We thank Nancy Sandy, CEO of Taconic Corporation and the rest of the management team for our highly collaborative and effective relationship and wish them continued success in the next phase of development.”
Robert W. Bird & Associates served as principal financial advisor to Taconic, and Perella Weinberg Partners served as associate advisor. Paul Hastings LLP served as the firm’s legal advisor.
About Taconic Biosciences
Taconic Biosciences, Inc. is one of the world’s leading suppliers of mouse research models for pharmaceuticals, biotechnology, CRO and academic research clients. Specializing in genetically modified models, precision research models, integrated model design and colony management services, Taconic supports research in oncology, immunology, neuroscience, and a variety of well-established and emerging therapeutic areas. Headquartered in Rensselaer, New York, with operations in Indiana, Germany and Denmark, Taconic also maintains distributor relationships in Asia and has global shipping capabilities to supply models almost anywhere in the world. For more information, please visit www.taconic.com.
About HIG Capital
HIG is a leading global alternative asset investment firm with $52 billion under management. * Headquartered in Miami, with offices in New York, Boston, Chicago, Dallas, Los Angeles, San Francisco and Atlanta in the US Also as international affiliate offices in London, Hamburg, Madrid, Milan, Paris, Bogota, Rio de Janeiro and Sao Paulo, HIG specializes in providing all From debt and equity capital to SMEs, using flexibility and focus on operating value/additional approach:
- HIG equity funds invest in management acquisitions, recapitalizations, and corporate takeovers of both the profitable as well as underperforming manufacturing and service businesses.
- HIG Debt Funds invest in large, unit and micro-debt financing of companies across a range of size, both on a primary (direct origin) basis, as well as in secondary markets. HIG is also a lead CLO, through the WhiteHorse family of cars, and operates a publicly traded BDC, WhiteHorse Finance.
- HIG’s real estate funds invest in value-added real estate, which can benefit from improved asset management practices.
- HIG Infrastructure focuses on making value-added and essential plus investments in the infrastructure sector.
Since its founding in 1993, HIG has invested in and managed more than 300 companies worldwide. The company’s current portfolio includes more than 100 companies with combined sales of more than $30 billion. For more information, please refer to the HIG website at www.higcapital.com.
*Based on total capital commitments managed by HIG Capital and its subsidiaries.
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Contact: John von Bargen
Keyword: USA North Massachusetts
Industry Keyword: Professional Financial Research Funding Biotechnical Services Pharmaceutical Health Other Sciences Professional Services Science Other Professional Services
Source: HIG Capital
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Published: 01/11/2022 12:00 PM / Disc: 01/11/2022 12:02 PM