Swiss contract research, development and manufacturing specialist Solvias has been bought by JLL Partners and Water Street Partners.
Founded in 1999, Solvias has grown to serve more than 600 biotech, medical device, cosmetic and multinational pharmaceutical companies.
In recent years it has extended its testing and analytical services to address biopharmaceutical products and emerging cell and gene therapies.
Solvias has remained fully operational during the current pandemic crisis, providing critical services to customers, including supporting their work to develop therapeutic options and vaccine candidates for Covid-19.
JLL and Water Street have previously teamed up on a string of deals, including adding patient support company Triplefin to the pair’s life sciences commercialisation services platform in 2018.
AltAssets revealed last November that JLL had raised over $686m for its eighth flagship buyout fund, putting it more than halfway to its $1.25bn goal.
Water Street exclusively focuses on healthcare investing, while JLL targets mid-market healthcare, speciality industrials and business services buyouts.
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