Teneo is providing PR services to private equity firm Clayton, Dubilier & Rice as it moves to acquire Dublin-based UDG Healthcare in a deal worth $3.7B.
UDG supplies advisory, marketing communications, strategic engagement, technology and manufacturing support to pharmaceutical and biotechnology companies.
CD&R purchased UK-based Huntsworth healthcare communications firm for $511M in 2020.
It plans to merge UDG’s Ashford advisory unit with Huntsworth to support clients across the life cycle of a drug, from development to launch and beyond patient expiry across therapeutic areas.
UDG Chairman Shane Cooke said CD&R made an attractive offer that “reflects the quality, strength and long-term performance of UDG’s business and future growth potential.”
Teneo has Philip Gawith and Haya Herbert-Burns repping CD&R, while Powerscourt’s Lisa Kavanagh, Jack Hickey and Eavan Gannon advise UDG.