BOSTON and Durham, N.C. Nov. 15, 2021 — Parexel, a leading global clinical research organization (CRO) focused on development and delivery of innovative new therapies to advance patient health, today announced the completion of its acquisition by EQT IX fund (“EQT Private Equity”) and funds managed by the Private Equity business within Goldman Sachs Asset Management (“Goldman Sachs”) from Pamplona Capital Management LP (“Pamplona”) for $8.5 billion. Jamie Macdonald will continue to serve as CEO of Parexel, supported by the current executive team and the company’s newly-appointed Board of Directors, which brings a breadth of experience across life sciences, digital transformation and innovation.
“We’re pleased to complete the transaction and to mark the beginning of the next chapter for Parexel’s success,” said Jamie Macdonald, CEO of Parexel. “We look forward to partnering with our new investors — EQT and Goldman Sachs — and our new Board of Directors to further strengthen our capabilities in the key areas of most significant need for our customers. The Parexel leadership team and our more than 18,000 colleagues around the world remain united in our Patients-First focus and mission of advancing world health, and we’re excited about this next phase of the journey.”
"I look forward to partnering with the Parexel leadership team and with Jamie, whom I have known for many years, as we accelerate Parexel’s growth, building on its distinguished track record of clinical excellence,” said Sheri McCoy, Chairperson of Parexel’s Board of Directors. “Parexel is a purpose-driven company that advances science and improves patient health across the world through the delivery of best-in-class clinical research and related services. EQT, Goldman Sachs and our Board are all focused on supporting Parexel in achieving this mission,” continued Ms. McCoy, who has partnered successfully with EQT on several prior investments and has a longstanding relationship with Goldman Sachs.
Parexel’s new Board of Directors includes:
About Parexel
Parexel supports the development of innovative new medicines to improve the health of patients. We provide services to help life sciences and biopharmaceutical clients everywhere transform scientific discoveries into new treatments. From decentralized clinical trials to regulatory consulting services to leveraging real world insights, our therapeutic, technical, and functional ability is underpinned by a deep conviction in what we do. Parexel was named “Best Contract Research Organization” in December 2020 by an independent panel for Informa Pharma Intelligence. For more information, visit parexel.com and follow us on LinkedIn, Twitter, and Instagram.
About EQT
EQT is a purpose-driven global investment organization with more than EUR 70 billion in assets under management across 27 active funds. EQT funds have portfolio companies in Europe, Asia-Pacific and the Americas with total sales of approximately EUR 29 billion and more than 175,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.
More info: www.eqtgroup.com
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About Goldman Sachs Asset Management Private Equity
Bringing together traditional and alternative investments, Goldman Sachs Asset Management provides clients around the world with a dedicated partnership and focus on long-term performance. As the primary investing area within Goldman Sachs (NYSE: GS), we deliver investment and advisory services for the world’s leading institutions, financial advisors and individuals, drawing from our deeply connected global network and tailored expert insights, across every region and market—overseeing more than $2 trillion in assets under supervision worldwide as of September 30, 2021. Driven by a passion for our clients’ performance, we seek to build long-term relationships based on conviction, sustainable outcomes, and shared success over time. Goldman Sachs Asset Management invests in the full spectrum of alternatives, including private equity, growth equity, private credit, real estate and infrastructure.
Established in 1986, the Private Equity business within Goldman Sachs Asset Management has invested over $75 billion since inception. We combine our global network of relationships, our unique insight across markets, industries and regions, and the worldwide resources of Goldman Sachs to build businesses and accelerate value creation across our portfolios. Follow us on LinkedIn.