KKR, Warburg, Cinven mull bids for clinical research group PRA


biotech_lrgBuyout majors KKR, Warburg Pincus and Cinven are reportedly mulling offers for clinical research group PRA International, which current owner Genstar Capital hopes to sell for $1.3bn.

The three private equity firms and other suitors are preparing to submit second round company later this month, said Reuters.

San Francisco-based private equity firm Genstar bought PRA for $797m in 2007 and put it up for sale four years later, but failed to land any offers.

Genstar put PRA up for sale again earlier this month, looking for offers of ten times its current EBITDA of $130m, according to the sources.

The firm has hired Jefferies Group to help find a buyer for PRA.

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