Case study

Synexus: Healthcare business grows internationally

Leading clinical trials business diversified and expanded to the US and Europe following a secondary buyout.

Sector
  • Healthcare
  • Support services

Synexus is the world's largest multi-national company focused on the recruitment and running of clinical trials.

Deal type
  • Secondary buyout
Deal value

£83m

Exit type
  • International trade sale
Exit date

06/06/2016

Exit value

£178m

The Team
LDC Region

Synexus is a multi-national company focused on recruiting for and running clinical trials, employing more than 850 people worldwide.

Headquartered in Manchester, it operates via an international network of 92 dedicated research centres, enabling access to a register of more than 79 million patients around the world.

The financial backing of LDC has enabled us to drive growth across the US and Europe, putting the business in an extremely strong position as one of the only global SMOs, and the team has also provided invaluable strategic support.”
Christophe Berthoux, Former CEO
Synexus

Establishing a firm footprint

In February 2015, LDC completed a £83m secondary buyout of Synexus, backing the management team to realise a clear organic growth strategy and a targeted buy and build plan to further enhance the customer offering and its geographic footprint.

During our tenure, the business completed the acquisition of Research Across America (RAA) which enabled Synexus to enter the US market, as well as providing additional expertise in areas such as dermatology and genetics.

LDC’s investment also supported the organic growth of the business and Synexus opened new dedicated research centres in Bulgaria, Poland and Romania, further strengthening its market-leading position in Europe.

In June 2016, LDC completed the exit of Synexus in an international trade deal to Jaguar Holding Company Luxembourg SARL, valuing the business at £178m and generating a 2.3x money multiple.

Our time working with LDC has created a strong platform to build on moving forward.”
Christophe Berthoux, Former CEO
Synexus