Healthcare communications group inVentiv Health has locked up backing from private equity firm Advent International in a deal that values the company at $3.8B.
Advent joins inVentiv's existing private equity owner, Thomas H. Lee Partners, as equal owner of the parent company to PR firms like Chandler Chicco Agency and Allidura Consumer.
"This will allow us to realize our full potential so we can better serve the biopharmaceutical industry in navigating an increasingly complex scientific and regulatory environment," said inVentiv chairman and CEO Michael Bell (pictured).
The investment means that inVentiv's plans for an initial public offering, filed in April, will be scrapped "at this time," the company said.
Abernathy MacGregor repped Advent on the PR front, whiel Sard Verbinnen & Co. advised inVentiv and Thomas H. Lee in the deal, which is expected to close in the fourth quarter.
Interpublic posted a 5.1 percent drop in Q3 net revenues to $2.5B as CEO Philippe Krakowsky reports the final financial results of the publicly traded company.
Joele Frank handles Pine Gate Renewables as the Asheville, NC-based solar power development company declares Chapter 11 in the aftermath of Donald Trump’s cuts to wind & solar tax credits.
Stagwell CEO Mark Penn reports Q3 net revenues jumped 6 percent to $614.5M, a record performance for a non-political period. Operating income soared 45.7 percent to $60.9M.
Joele Frank works for Klöckner Pentaplast as the German maker of plastic films declares Chapter 11. A successful reorganization would slash its its corporate debt by $1.5B.
Teneo represents Metsera, the New York City biotech focused on weight-control products, which is subject to a bidding war between heavyweights Novo Nordisk and Pfizer.
