Kohlberg & Co. LLC (“Kohlberg”), a Mount Kisco-based private equity firm, has acquired Worldwide Clinical Trials, a North Carolina-headquartered contract research organization and an affiliate company of TJC LP.
Worldwide works in partnership with biotechnology and pharmaceutical companies to create customized solutions that advance new medications. The company”™s capabilities include bioanalytical laboratory services, Phase I-IV clinical trials, and post-approval and real-world evidence studies. Worldwide has more than 3,200 employees across nearly 60 countries and is therapeutically focused on cardiovascular, metabolic, neuroscience, oncology, and rare diseases.
The terms of the acquisition were not disclosed, although Kohlberg stated TJC will “retain a meaningful minority equity stake” in the company. Upon close of the transaction, Matt Jennings, operating partner of Kohlberg, will become chairman of Worldwide”™s board of directors.
“Worldwide Clinical Trials is positioned for long-term growth and success due to a rigorous high science-based approach to executing successful clinical trials, driven by the strength of their people across key therapeutic areas such as oncology, neuroscience, and rare disease,” said Jennings. “Peter and the Worldwide team have an exceptional track record, and we look forward to partnering with them to add value and further accelerate their growth.”
