Aurora Capital Partners today announced that it has sold a majority stake in leading analytical & life sciences testing and service provider Pace to Leonard Green & Partners. Aurora has reinvested alongside LGP as part of the transaction.
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.
"As a market leader with a highly resilient business model, multiple avenues for growth, and world-class management team, Pace has been an ideal fit for the Aurora program," said Randy Moser, Partner at Aurora. "We are delighted to have the opportunity to continue partnering with Pace and to work with the LGP team to help the Company capitalize on the many organic and inorganic opportunities we see across the business. We also thank Steve Vanderboom, Pace's founder, for selecting us as his partner in 2016, and congratulate him on his retirement.”
The full release can be read here: https://www.prnewswire.com/news-releases/leonard-green--partners-acquires-majority-stake-in-leading-analytical--life-sciences-testing-and-services-provider-pace-from-aurora-capital-partners-301458042.html?tc=eml_cleartime