Triton completes acquisition of Clinigen

London (England), 05 April 2022 – Triton is pleased to announce the completion of its acquisition of Clinigen, the global, specialist pharmaceutical services and products platform through a newly-formed company indirectly owned by the Triton Funds, Triley Bidco Limited.

On 17 January 2022, Clinigen and Bidco jointly announced that they had agreed the terms of a recommended all-cash offer for Clinigen by Bidco, pursuant to which Bidco has acquired the entire issued and to be issued ordinary share capital of Clinigen at a price of 925 pence in cash per share. On 31 March 2022, Clinigen announced that the Court had sanctioned the Scheme of Arrangement, which was approved by shareholders on 8 February 2022.

Triton was attracted to the differentiation Clinigen has created through a combination of services across the pharmaceutical product lifecycle, from phase II clinical trials to commercialization of both licensed and unlicensed medicines. Triton intends to support Clinigen in accelerating its growth through extending its geographical reach, competing more effectively for inorganic growth opportunities, and strengthening its differentiated services and digital platform to better serve its clients, healthcare professionals and patients.

Triton has been investing in healthcare businesses since 2002 and it is one of the firm’s core sectors. Triton has a strong track record of transforming healthcare businesses across Europe, partnering with management to drive operational change and supporting companies fulfil their potential. Today, Triton has a broad portfolio of healthcare businesses, with specialist expertise in the pharma and pharma services sectors; select investments include UK-headquartered specialty pharmaceutical business Pharmanovia and leading Italian pharma primary packaging manufacturer Bormioli Pharma.

“In Triton, we have found an excellent partner to support Clinigen on the next stage of its growth journey. The firm’s established track record of partnering with management teams to deliver transformational growth within healthcare companies will be of great benefit to Clinigen and its customers, and we look forward to working together to realise our full potential under Triton’s ownership”, says Shaun Chilton, Chief Executive Officer of Clinigen.

“We are delighted to complete the acquisition of Clinigen, a leading provider of services to pharma and biotech companies, and pharmaceuticals to healthcare professionals and patients. Triton’s deep expertise in healthcare will enable Clinigen to achieve its full potential as a private company, growing its offering in the global pharmaceutical ecosystem”, says Jan Pomoell, Co-head of Triton’s Healthcare sector.