UK-based private equity firm Cinven Ltd to acquire U.S. pharmaceutical contract research organization Medpace from buyout firm CCMP Capital Advisors LLC for a little over $900 million.
The company focuses on European investments but pursued Medpace because of the company’s substantial presence in Europe, as well as the opportunity to expand its business in Asia, where Cinven already has a team of professionals working with its portfolio companies.
Cinven raised its latest fund last year, amassing 5.3 billion euros ($7.3 billion).
On August 17, 2012, the company bought Mercury Pharma, the U.K. maker of mostly generic drugs and some branded products.