Alliance Pharma to acquire LGC’s bio-analytical arm for an undisclosed amount

(RTTNews) – Ampersand-backed Alliance Pharma Plc (APH.L) said on Tuesday it had agreed to buy Drug Development Solutions or DDS, a bio-analytical business arm of LGC Group. Financial terms of the deal were not disclosed.

KKR & Co. Inc. (KKR) will become an equal shareholder in the combined company alongside Ampersand Capital Partners.

With this transaction, which is expected to close in the second quarter, the combined businesses supported by Ampersand and KKR aim to strengthen the company’s geographic reach, expand its laboratory capabilities and broaden its service portfolio.

Eric Lev, General Partner at Ampersand Capital Partners, said, “Alliance and DDS are highly complementary businesses with leading management and scientific teams, and a strong track record of supporting major pharmaceutical and biopharmaceutical clients. We are excited to collaborate to bring together two well-respected and rapidly growing bioanalytical laboratory services companies to create one of the world’s leading specialty bioanalytical platforms. »

KKR invests in Alliance and DDS through the KKR Health Care Strategic Growth Fund II, a $4 billion fund focused on investing in high-growth healthcare companies.

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