New Investor Partnership Co-led by Founder and CEO Dennis Gillings, Bain
Capital and TPG
RESEARCH TRIANGLE PARK, N.C., Dec. 21 /PRNewswire/ -- Quintiles
Transnational Corp. today announced the formation of a new investor
partnership to support the company's continued growth under the leadership
of current Chairman and CEO Dennis Gillings, CBE, and the management team.
Gillings and global private investment firms Bain Capital and TPG Capital
are the lead investors in the partnership, with 3i also becoming a
significant investor. Temasek Holdings remains an investor in Quintiles.
As part of the transaction, One Equity Partners (OEP), the private
equity arm of JPMorgan Chase (NYSE: JPM), will sell its stake in the
company to the new investor partnership. OEP, with Gillings, led the
original acquisition of Quintiles along with TPG Capital in September 2003.
Terms of the transaction, expected to close in January 2008, were not
disclosed, and the company said it is incurring no new debt as a result of
the deal.
"Our new investor partnership is a strong reinforcement of Quintiles'
brand and growth strategy," Gillings said, "and has been spurred by our
record performance. We are pleased to move forward with our financial
partners Bain Capital, TPG, 3i and Temasek. The strength of our capital
structure and partnership with these leading global investors underscore
our unsurpassed ability to bring innovative solutions to the pharmaceutical
and biotech industries. I also want to thank One Equity Partners for their
contributions over the past four years."
Jonathan Coslet, a Partner at TPG, said: "We are pleased to remain
Quintiles' partner through the next stage of its growth in helping pharma
and biotech transform their business models. Dennis and his team have done
a remarkable job in building Quintiles into the leading global drug
development, commercialization and strategic partnering company."
John Connaughton, a Managing Director at Bain Capital, stated: "We are
very excited to sponsor the next phase of development for Quintiles, a
market leader well positioned for continued success in the highest growth
segments and regions of the world. We believe Quintiles will continue to
play a critical role in bringing healthcare advances and innovations to
patients in need. We have been very impressed with management, and look
forward to supporting their efforts to advance the company's global
leadership."
Robin Marshall, a partner at 3i, said, "3i is delighted to partner with
Quintiles in the next stage of its development. Quintiles is a world class
business which will continue to have a huge impact in the healthcare
industry. 3i will leverage its extensive global healthcare network to help
Quintiles continue its growth."
About Quintiles Transnational
Quintiles Transnational Corp. is powering the next generation of
healthcare by providing a broad range of professional services in drug
development, financial partnering and commercialization for the
pharmaceutical, biotechnology and healthcare industries. With about 20,000
employees and offices in more than 50 countries, it is focused on providing
customer-centric solutions that are the gold standard of the industry. For
more information, please visit the company's web site at http://www.qtrn.com.
About Bain Capital
Bain Capital (http://www.baincapital.com) is a global private investment firm
that manages several pools of capital including private equity, venture
capital, public equity and leveraged debt assets with more than $65 billion
in assets under management. Since its inception in 1984, Bain Capital has
made private equity investments and add-on acquisitions in over 250
companies around the world, and has a team of almost 200 professionals
dedicated to investing in and supporting its portfolio companies. Bain
Capital has a long history of investing in healthcare, with investments in
more than 50 companies including HCA, Warner Chilcott, CRC Health Group,
Stericycle, M|C Communications, Wesley Jessen, and Physio Control.
Headquartered in Boston, Bain Capital has offices in New York, London, Hong
Kong, Shanghai, Tokyo and Munich.
About TPG Capital
TPG Capital is the global buyout group of TPG, a leading private
investment firm founded in 1992, with more than $35 billion of assets under
management and offices in San Francisco, London, Hong Kong, New York,
Minneapolis, Fort Worth, Melbourne, Menlo Park, Moscow, Mumbai, Beijing,
Shanghai, Singapore and Tokyo. TPG Capital has extensive experience with
global public and private investments executed through leveraged buyouts,
recapitalizations, spinouts, joint ventures and restructurings. Please
visit http://www.tpg.com.
About 3i
Established in 1945, 3i is an international leader in private equity
and venture capital with assets of $16 billion. 3i invests across Europe,
North America and Asia. Our competitive advantage comes from our
international network with more than 250 investment professionals in 14
countries, unrivaled sector depth and an extensive portfolio of
approximately 750 companies. These underpin the value that we deliver to
our portfolio and to our shareholders. Please visit http://www.3i.com.
About Temasek Holdings
Incorporated in 1974, Temasek Holdings is an Asia investment firm
headquartered in Singapore. Temasek has a multinational staff of 300
people. Supported by affiliates and offices around Asia, it manages a
diversified S$164 billion (US$108 billion) portfolio, focused primarily in
Asia. Temasek is a shareholder and investor in diverse sectors such as
banking & financial services, real estate, transportation & logistics,
infrastructure, telecommunications & media, bioscience & healthcare,
education, consumer & lifestyle, engineering & technology, as well as
energy & resources.
SOURCE Quintiles Transnational Corp.
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Related links:
http://www.quintiles.com
http://www.qtrn.com http://www.baincapital.com
http://www.tpg.com http://www.3i.com
CONTACT:
Pat Grebe, Media Relations, +1-919-998-2091,
media.info@quintiles.com, or Greg Connors, Investor Relations,
+1-919-998-2000, invest@quintiles.com, both of Quintiles; Alex
Stanton of Stanton Crenshaw Communications, +1-212-780-0701,
alex@stantoncrenshaw.com, for Bain Capital; Kristin Celauro of
Owen Blicksilver PR, Inc., +1-732-291-5456,
kristin@blicksilverpr.com, for TPG; Dawn Lesh of 3i,
+1-212-848-1420, dawn.lesh@3i.com
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