Behrman Capital and Texas Pacific Group Announce Acquisition of NOTOX Beheer BV.NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- Behrman Capital, a private equity firm based in New York and San Francisco San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden , and Texas Pacific Group's venture fund, today announced that their portfolio company WIL See WinBatch. 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 Debt Financing When a firm raises money for working capital or capital expenditures by selling bonds, bills, or notes to individual and/or institutional investors. In return for lending the money, the individuals or institutions become creditors and receive a promise to repay was provided by ABN Amro ABN AMRO Algemene Bank Nederland-Amsterdam Roterdam Bank (Dutch bank) Bank N.V. in the Netherlands. Founded in 1983, NOTOX provides safety-assessment and product development-related toxicological services primarily in Europe, with clients worldwide including the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and Japan. WIL Research Laboratories, headquartered in Ashland, Ohio, was acquired by Behrman Capital in a management buyout Management buyout (MBO) Leveraged buyout whereby the acquiring group is led by the firm's management. management buyout See going private. 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 management 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 New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. and San Francisco, Behrman Capital was founded in 1992 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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