PHASTAR Announces Investment by Charterhouse Capital Partners
London, UK and Durham, NC – 5 January 2021 – PHASTAR, a specialist biometrics clinical research organization (CRO) for clinical trials, announces an investment made by Charterhouse Capital Partners LLP, a long-established European private equity firm, which will support PHASTAR’s growth in biometrics and geographic expansion. Charterhouse is making its investment in partnership with PHASTAR’s Founder and CEO Kevin Kane, who remains a significant shareholder in the business. Kevin and the existing management team will continue to run, manage and operate the business on a day-to-day basis.
"PHASTAR's partnership with Charterhouse is a significant next step in our planned growth strategy," said Kane. "With a new office opening in China our global footprint will widen to include the UK, Europe, Africa, the U.S. and Asia, giving us an opportunity to better serve our clients anywhere in the world. We are extremely grateful for the support our clients and team members have shown over the past 13 years. We anticipate that support will continue to cement PHASTAR’s position as the partner of choice for pharmaceutical companies in their critical statistical and data science projects in the years ahead," he added.
As part of the transaction, Dr. Nick Edwards, MD will become Non-Executive Chair of PHASTAR. Dr. Edwards is currently the Chairman of the Board of Directors at Prescient Healthcare Group. Dr. Edwards brings to PHASTAR wide-ranging industry experience in the medical and pharmaceutical industries as a medical doctor and also as co-founder of Kinapse life sciences consultancy. Additionally, he served as lead partner in Accenture’s Pharmaceutical R&D Practice. With his exceptional breadth of industry knowledge, Dr. Edwards will provide significant contributions to strategic business discussions in support of PHASTAR’s future planning and provide a key link between PHASTAR’s business and Charterhouse.
"PHASTAR is a superb provider of statistical support to its clients and operates in a very attractive industry, supported by numerous long-term growth drivers. The company has an enviable reputation, among both pharmaceutical companies and individual statisticians, and is an excellent fit for our firm's investment strategy. We have been particularly impressed by the relentless focus on quality and service, which is core to PHASTAR’s culture. We look forward to working with Kevin and the entire PHASTAR team to leverage the enormous opportunity for further growth during the coming years," commented James Cocker, Partner at Charterhouse.
Edgemont Partners acted as advisors to PHASTAR and Charterhouse was advised by Results Healthcare.
About Charterhouse Capital Partners LLP
Charterhouse is one of the longest established private equity firms operating in Europe. The firm connects expertise and capital, collaborating with ambitious management teams to drive transformational change.
Charterhouse has a selective, conviction-led approach to investing in high-quality mid-market European companies across the Services, Healthcare, Specialised Industrials and Consumer sectors. It targets transactions with an enterprise value of between €75m and €1.5bn.
Charterhouse’s international team works in an integrated and flexible manner, without internal silos, from one main office in London. This allows the firm to work in true partnership with management and combine the skills, knowledge and experience of its entire team to help build successful businesses over the long term.
PHASTAR MEDIA CONTACT:
Ripple Effect Communications
CHARTERHOUSE MEDIA CONTACT:
+44 (0)207 952 2000