Deal Details
Pace Receives Majority Investment from LGP
Summary
Pace (“Pace” or the “Company”), a portfolio company of Aurora Capital Partners (“Aurora”), has received a new majority investment from Leonard Green & Partners, L.P (“LGP”). Aurora has reinvested alongside LGP as part of the transaction. Financial terms were not disclosed.
Baird served as a financial advisor to Pace on this transaction
About
Founded in 1978, Pace has built a nationwide network of over 65 analytical testing laboratories, 8 life sciences labs, and more than 45 service centers. Pace’s Analytical Services division provides full-service testing, sampling, and analytical support services to detect trace-level organic and inorganic contaminants in air, water, wastewater, soil, biota, and waste. Pace’s Life Sciences division provides a wide variety of testing services for the biopharmaceutical, pharmaceutical, medical device, and drug device industries as well as early-stage drug development and manufacturing services with a broad range of pre-clinical and clinical capabilities for both small and large molecules. Pace is headquartered in Minneapolis, Minnesota.Aurora Capital Partners is a leading private equity firm focused principally on control investments in middle-market companies with leading market positions, stable industry dynamics, attractive business model characteristics and actionable opportunities for growth in partnership with management. Aurora provides unique resources to its portfolio companies through its Strategy & Operations Program and its team of experienced operating advisors. Aurora's investors include leading public and corporate pension funds, endowments and foundations active in private equity investing. Aurora is headquartered in Los Angeles, California.
LGP is a leading private equity investment firm founded in 1989 with over $50 billion of assets under management. The firm partners with experienced management teams and often with founders to invest in market-leading companies. Since inception, LGP has invested in over 100 companies in the form of traditional buyouts, going-private transactions, recapitalizations, growth equity, and selective public equity and debt positions. The firm primarily focuses on companies providing services, including consumer, business and healthcare services, as well as retail, distribution and industrials. LGP is headquartered in Los Angeles, California.
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- Date
- January 2022
- Company
- Pace
- Transaction
- M&A - Sellside
- Sectors
- Industrial
- Verticals
-
Biotechnology & Pharmaceuticals
Pharmaceutical Services
Test, Measurement & Automation
Testing, Inspection, Certification & Compliance ("TICC")
- Target Geography
- North America
- Acquiror Geography
- North America
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