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NEW YORK, July 27, 2005 — Behrman Capital, a private equity firm based in New York and San Francisco, and Texas Pacific Group’s venture fund, today announced that their portfolio company WIL Research Laboratories, a pre-clinical contract research organization, has acquired NOTOX Beheer BV of ‘s-Hertogenbosch, The Netherlands. The transaction has an aggregate value of $60 million. Debt financing was provided by ABN Amro Bank N.V. in the Netherlands.
Founded in 1983, NOTOX provides safety-assessment and product developmentrelated toxicological services primarily in Europe, with clients worldwide including the United States and Japan. WIL Research Laboratories, headquartered in Ashland, Ohio, was acquired by Behrman Capital in a management buyout in September 2004.
“We are very pleased to join with the management of WIL Research Laboratories in pursuing this significant add-on acquisition,” said Grant G. Behrman, Managing Partner of Behrman Capital. “As we stated last September when we acquired WIL Research Laboratories, WIL is a clear leader in outsourced safety and toxicological assessment research and services. The acquisition of NOTOX confirms our commitment to build on the strong foundation that WIL has established, and reflects our determination to enhance WIL’s value for its clients in the United States, Europe and around the world.”
“Jan van der Hoeven, a founding member of NOTOX, will join the Board of Directors of WIL Research while NOTOX will continue with its current leadership, including Dr. Wilbert Frieling as Managing Director and Dr. Ilona Enninga as Technical Director. Together, WIL and NOTOX will closely collaborate scientifically, share best practices, co-market selective initiatives, and work to provide a seamless bridge between laboratories as required by clients,” Mr. Behrman said.
“The mutual respect and admiration of the managem ent teams, strong similarities in management philosophies, company history, and the potential of significant synergies in complementary service offerings have allowed this union to be consummated,” said Joseph F. Holson, President of WIL Research. “This transaction is consistent with our strategic plan to offer high-quality, scientifically driven services on a global basis with WIL Research serving as the platform organization.”
Based in New York City and San Francisco, Behrman Capital was founded in 1991 by Grant G. and Darryl G. Behrman. The firm invests in management buyouts, leveraged buildups and recapitalizations of established growth businesses. The company’s investments are focused primarily in four industries: information technology, contract manufacturing, outsourcing, and healthcare. The firm currently has a combined capital base of $1.8 billion.
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For Behrman Capital:
David Lilly / Michael Freitag
Kekst and Company