Larka is delighted to announce it acted as the buy-side Commercial Due Diligence advisor for Apax Partners, supporting its acquisition of Porsolt, a leading French Contract Research Organization (CRO).
European-leading Private Equity firm Apax Partners has acquired a majority stake in Porsolt, a global preclinical Contract Research Organization (CRO) specialised in pharmacology, pharmacokinetics and safety pharmacology.
While already established within the preclinical research space, this investment from Apax—along with the current management and shareholders—will enable Porsolt to accelerate its already-sustained growth and global expansion, with the objective to become a major player over the forthcoming years.
How did Larka support Apax Partners’ Acquisition Process?
Acting as the Commercial Due Diligence advisor, Larka provided Apax Partners with key insights and recommendations, giving our M&A team an essential role in the overall decision-making process, and in turn, the acquisition of Porsolt by the Paris-based Private Equity firm.
We are delighted to become the new majority shareholders of Porsolt and look forward to supporting its next stage of growth.
The Larka team was a major asset for us on this deal. Their insights quickly allowed us to deepen our understanding of Porsolt’s unique proposition within the preclinical CRO market and to identify value creation levers for the years ahead.
Their ability to perform such a comprehensive commercial assessment of a company—especially one evolving in a highly technical field like Porsolt—was much appreciated and showcased a deep understanding of the pharmaceutical industry.
Stanislas Panhard – Partner at Apax Partners
As for all of our Buy-Side and Sell-Side M&A services, this Commercial Due Diligence process leveraged Larka’s extensive biopharmaceutical industry knowledge—in this case the CRO and preclinical testing solutions market—to provide Apax with a comprehensive picture of Porsolt, including:
- Core value proposition within the preclinical CRO services market
- CRO market dynamics and market sizing
- Competitive environment
- Customer environment & market feedbacks
- Business Plan review
What’s Next for Porsolt?
Operating from its research facilities in Laval and currently employing shy of 100 FTEs, Porsolt has become a key player offering Biotech & Pharma companies and academic institutes best-in-class preclinical CRO services, such as:
- Drug discovery
- Screening
- Efficacy
- Pharmacological safety testing
With over 35 years of experience, the Laval-based player has been able to develop a wide set of capabilities, addressing multiple therapeutical areas including oncology, cardiology, neurology, psychology & cognition, dermatology and pain management.
Providing this additional capital, strategic guidance and extensive industry experience, Apax Partners aim to support the management team in accelerating the growth of Porsolt—and further seal its position as a key global player within the preclinical CRO market.
After almost 40 years of sustained organic growth, the French CRO is set to reach new hights in the forthcoming years, with Apax contributing to major strategic moves, including:
- Hiring of key staff—with a targeted 40% increase in the next 4 years
- External growth of services portfolio and therapeutic areas addressed
- Expansion of international footprint and customer base
- Bolt-on acquisitions in Europe and in the U.S.
Read our latest M&A transaction news
About Larka: the buy-side commercial due diligence provider
Larka is a management consulting firm, exclusively dedicated to the Biotech and Pharma industry. We assist all players that are somehow involved technically, commercially or financially into drug discovery, development and manufacturing, such as Biotech & Pharma companies, Contract Services Organizations, Equipment or Raw Materials Suppliers, Private Equity firms, Investment Banks or Public Institutions.
Covering Technical, Operational, Commercial and Strategic activities, Larka has developed a unique combination of expertise – including TechOps, CMC & Outsourcing, Operational & Commercial excellence, Marketing & Sales, Corporate Strategy and M&A - giving Larka’s clients a full appreciation of their capabilities and a 360° view, full-potential vision, on the industry’s opportunities, synergies and risks.
About Apax Partners: the Private Equity firm advised
Apax Partners is one of the leading private equity firms in Europe. With 50 years of experience, Apax Partners works with companies over the long term to make them leaders in their sector. The funds managed and advised by Apax Partners amount to over €5 billion. These funds invest in high-growth SMEs and SMIs in four sectors of specialisation: Tech & Telecom, Services, Health and Consumer Goods.
About Porsolt: the CRO target
Porsolt SAS, located in Le Genest-Saint-Isle close to Laval, France, is an internationally recognized and long established global preclinical Contract Research Organization (CRO). Porsolt works with pharmaceutical and biotechnology companies, academic institutes, and not-for-profit organizations, offering specialized preclinical testing services across many disease areas, physiological systems and processes. Porsolt provides a range of services including drug discovery, screening, as well as efficacy and pharmacological safety testing, using both standardized and innovative techniques in full compliance with GLP (ICH S7).