Kester Capital (Kester), a UK lower mid-market private equity specialist, has completed its sixth Life Sciences services deal with an investment in GXP Engaged, a provider of audit and related consulting services to the pharmaceutical and biotech sectors.
The investment is Kester’s sixth from its latest fund, Kester Capital III. Earlier this year, the firm acquired MAP Patient Access, a provider of market access consulting services and, last month, announced the acquisition of Biopharmics by its portfolio company, Optibrium, a software provider to the drug discovery market. Kester also recently exited Avania, the global medical technology CRO, generating a 8.4x return.
With Kester’s support, GXP Engaged, which has offices in the UK, Germany and Austria, will look to build its global presence rapidly, both organically as well as through strategic acquisitions.
Following the acquisition, Ian Montague, an experienced life science auditing senior executive, whom Kester has known for several years, will transition from his current role as Chief Commercial Officer to lead the business as CEO. In addition, André van de Sande, who has held several executive, NED and Chair roles in the life sciences sector, will join as Chair.
