Harris Williams & Co. Advises Western Institutional Review Board in its Sale to Arsenal Capital Partners
March 01 2012 - 11:20AM
Business Wire
Harris Williams & Co., a preeminent middle market investment
bank focused on the advisory needs of clients worldwide, announces
the sale of Western Institutional Review Board (WIRB), the world’s
largest independent institutional review board (IRB), to Arsenal
Capital Partners (Arsenal). WIRB was a portfolio company of BV
Investment Partners (BV). Harris Williams & Co. acted as the
exclusive advisor to WIRB. The transaction closed on February
29, 2012 and was led by the firm’s Healthcare & Life
Sciences (HCLS) and Technology, Telecom & Digital Media (TTDM)
Groups.
“Founded in 1968, WIRB pioneered the concept of the independent
IRB and over the years has established an outstanding reputation
for its market leadership, integrity and expertise. The transaction
illustrates the significant M&A interest for companies that
provide value-added services for pharmaceutical companies, contract
research organizations, medical device sponsors and research
institutions,” said Todd Morris, a managing director in Harris
Williams & Co.’s San Francisco office and HCLS Group. “WIRB’s
data and workflow management systems enable the company’s stringent
focus on compliance and improve the operational efficiency of its
reviews. We continue to see great interest in technology-enabled
healthcare assets,” said Garin Arevian, a director in Harris
Williams & Co.’s Boston office and TTDM practice.
WIRB provides information-based services that play an integral
role in the clinical trial process for new drugs and medical
devices, an area of growth within the healthcare industry. Over the
course of its 44-year history, WIRB has established long-term
relationships with a broad base of blue-chip clients, including
many of the nation’s leading medical and academic research centers,
as well as large pharmaceutical, biotech and medical device
companies.
BV is an experienced sector-focused private equity firm in North
America. Since its founding in 1983, the firm has invested over
$2.6 billion in over 75 companies, actively targeting investments
in the information and business services and communications
industries.
Arsenal Capital Partners invests in specialty product and
services companies in industries where it has substantial prior
experience and expertise and can support management teams to drive
growth and improve productivity. Arsenal focuses on growing niche
markets including healthcare, specialty chemicals, aerospace and
defense, specialty components, business services and distribution
and logistics.
Harris Williams & Co. (www.harriswilliams.com), a member of
The PNC Financial Services Group, Inc. (NYSE:PNC), is a preeminent
middle market investment bank focused on the advisory needs of
clients worldwide. The firm has deep industry knowledge, global
transaction expertise, and an unwavering commitment to excellence.
Harris Williams & Co. provides sell-side and acquisition
advisory, restructuring advisory, board advisory, private
placements, and capital markets advisory services.
The firm’s HCLS Group focuses on transactions across the
spectrum of healthcare market segments. For more information,
contact Todd Morris at +1 (415) 288-4260 or Turner Bredrup, James
Clark or Cheairs Porter in at +1 (804) 648-0072. The firm’s TTDM
team focuses on software, IT services, communications and digital
media. For more information on Harris Williams & Co.’s efforts
in TTDM, contact Jeff Bistrong at +1 (617) 654-2102, Michael
Wilkins at +1 (415) 288-4260 or Thierry Monjauze at +44 207 518
8900.
Investment banking services are provided by Harris Williams LLC,
a registered broker-dealer and member of FINRA and SIPC, and Harris
Williams & Co. Ltd, which is authorised and regulated by the
Financial Services Authority. Harris Williams & Co. is a trade
name under which Harris Williams LLC and Harris Williams & Co.
Ltd conduct business in the U.S. and Europe, respectively.
For general release inquiries, please contact Kimberly Baker,
marketing director, at +1 (804) 648-0072
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