Avista Capital Partners and Ontario Teachers’ Pension Plan, through its private investor department Teachers’ Private Capital, have signed an agreement to acquire INC Research from an investor group led by Crosspoint Venture Partners and Adams Street Partners.

INC Research is a privately-held, therapeutically focused contract research organisation with expertise in managing late stage clinical development programmes. INC Research employs 2,000 people in 40 countries worldwide.

David Burgstahler, partner and president of private equity firm Avista Capital Partners, says: “Avista and our partners at Teachers’ Private Capital are delighted to add INC Research to our respective healthcare portfolios. INC Research has an excellent reputation amongst its premier customer base for quality service and therapeutic expertise, and is well positioned to continue to expand its global footprint and capabilities as a leading contract research organisation. We look forward to partnering with the existing management team to support INC Research’s next phase of accelerated growth.”

“We are enthusiastic to partner with James Ogle, chief executive of INC Research, and his talented management team, who have a strong track record of success,” adds Neil Petroff, Teachers’ executive vice-president and chief investment officer. “Under Ogle’s leadership, we are confident INC Research will continue to capitalise on favourable trends in the clinical development outsourcing market and utilise its global reach to enhance its market share.”

The transaction is expected to close in the fourth quarter of 2010, subject to the satisfaction of customary closing conditions and regulatory approvals.