Business Wire

Avania in Position for Next Stage of Growth

Share

Avania, a leading global full-service contract research organization (CRO) focused on medical technology (MedTech) development, today announced that it has successfully refinanced its existing banking facilities with Crescent Capital Group.

“This new banking facility allows us to accelerate our next phase of organic and acquisitive growth over the next few years,” said Edo van Houten, CFO of Avania. “This transaction is also a reflection of the progress we have made in our brand strategy and position in the market, and it demonstrates the confidence of the financial community in our operational and strategic plan.”

Avania has navigated confidently through the COVID-19 pandemic, posting a strong year of growth in 2020 despite the pandemic. The company will continue its growth trajectory as a global MedTech-focused CRO, supporting products from concept through post-market support. MedTech is all Avania does, navigating innovative medical technologies to market effectively and efficiently, with expertise and integrity.

Avania was acquired by Kester Capital (“Kester”) in 2016, and with that investment, Avania started a successful journey to establish global presence through organic growth and multiple acquisitions in Europe, the U.S. and Australia. Adam Maidment, managing partner at Kester, stated, “We are very happy to support Avania in this refinancing and look forward to continuing the successful buy and build strategy we started in 2016.”

Sapna Hornyak, CEO of Avania, said: “We are delighted with this refinancing, which is not only a strong endorsement of our performance, but it also enables us to execute our plans to further scale the business globally in order to continue to benefit our clients with our compelling offering, quality and dedicated team.”

Avania was advised on the transaction by Deloitte (lead debt advisor), BDO (financial diligence), NautaDutilh (legal diligence and legal counsel, Netherlands), Smith Anderson (legal counsel, U.S.), Addisons (legal diligence, Australia) and Travers Smith (legal advisor banking facilities).

About Avania

Avania is a leading, global full-service contract research organization focused on the management of clinical studies for medical devices, IVDs, biologics, and device-drug combination products internationally. Avania supports products from the first-in-human phase through the post-market phase with the same customized approach. When you need to advance your medical technology, it takes Avania. Avania’s vision is to be your trusted global partner in the evolution of your medical technology from innovation to commercialization to improving patient health and well-being.

About Crescent Capital Group LP

Crescent is a global credit investment manager with approximately $29+ billion of assets under management. For nearly 30 years, the firm has focused on below investment grade credit through strategies that invest in marketable and privately originated debt securities including senior bank loans, high yield bonds, as well as private senior, unitranche and junior debt securities. Crescent is headquartered in Los Angeles with offices in New York, Boston and London and has more than 180 employees globally. For more information about Crescent, visit www.crescentcap.com.

To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.

Contact information

Avania
Edo van Houten, CFO
+31 30 229 2727
Edo.Vanhouten@avaniaclinical.com

About Business Wire

For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.

Subscribe to releases from Business Wire

Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from Business Wire

AngloGold Ashanti Releases Preliminary Unaudited Condensed Consolidated Financial Statements as of and for the Six Months and the Year Ended 31 December 202319.3.2024 14:04:00 EET | Press release

AngloGold Ashanti plc (“AngloGold Ashanti”, “AGA” or the “Company”) is pleased to provide its preliminary unaudited condensed consolidated financial statements as of and for the six months and the year ended 31 December 2023 (the “FY 2023 Earnings Release”). FY 2023 Financial and Operating Update The FY 2023 Earnings Release should be read together with AngloGold Ashanti’s preliminary financial update for the six months and the year ended 31 December 2023, which was published by the Company on 23 February 2024 (the “FY 2023 Preliminary Financial Update”). No changes have been made in the FY 2023 Earnings Release with respect to the production, cost or cash flow information included in the FY 2023 Preliminary Financial Update. The FY 2023 Preliminary Financial Update combined with the FY 2023 Earnings Release provide the Company’s financial and operating update for the six months and the year ended 31 December 2023. Announcement of Annual General Meeting Date The 2024 Annual General Mee

IFF Announces Sale of its Pharma Solutions Business to Roquette19.3.2024 13:45:00 EET | Press release

IFF (NYSE: IFF) today announced that it has entered into a definitive agreement to sell its Pharma Solutions business unit to French leader of plant-based ingredients Roquette for an enterprise value of up to $2.85 billion, which represents an enterprise value to EBITDA multiple of approximately 13x. IFF’s Pharma Solutions business is a well-established developer and manufacturer of pharmaceutical excipients and includes its Global Specialty Solutions business supporting industrial and methyl cellulosic food applications. The Pharma Solutions business being sold to Roquette is primarily made up of businesses within IFF’s existing Pharma Solutions division, with some adjustments to the perimeter of the transaction designed to align customers, businesses and the manufacturing footprint. “We are pleased to reach an agreement with Roquette that will support Pharma Solutions’ next chapter of growth as a trusted partner for the pharmaceutical industry,” said IFF CEO Erik Fyrwald. "An importa

“Unfortunately, not a lot has changed for girls in football.”19.3.2024 12:00:00 EET | Press release

PUMA CEO Arne Freundt and Alexandra Popp, the captain of the Germany national football team, spoke about leadership and the challenges of women in football. The video interview is part of the sports company’s digital annual report, which was published on March 18 on about.puma.com. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240319731548/en/ Voted Germany’s footballer of the year three times, Alexandra is one of the most prominent ambassadors for women’s football and she is known for her skill and charismatic leadership on the pitch. She started off her career playing in a mixed team, and she distinctly recalled how girls were often belittled and treated unfairly on the pitch. “Football is still pretty tough for girls. The boys in my team were cool. But our opponents were another story. They laughed at you. They said: look, they have a girl in their team, we’ll beat them easily,” Alexandra said. “Or when you play and you

Moove secures USD $100 million Series B round19.3.2024 11:01:00 EET | Press release

Moove, the global mobility fintech that democratises access to vehicle ownership for mobility entrepreneurs, today announces that it has raised $100 million in a Series B funding round, valuing the company at $750m. Uber invested in the round alongside Mubadala, who led Moove’s previous funding round in 2023. The round will enable Moove to expand its customer focused revenue-based vehicle financing offering to 16 markets around the world by the end of 2025. A considerable portion of this expansion will focus on electric vehicles (EVs), which will lay the groundwork for a more sustainable and accessible mobility ecosystem for its customers worldwide. Ladi Delano, Founder of Moove, said: “Today’s announcement marks a significant milestone for us. When we founded Moove in 2020, we were motivated to solve the acute shortage of vehicle financing that over two million African mobility entrepreneurs faced. “This validation from Uber and others stands as a testament to the fact that what was o

Cielo Debuts First Generative AI for Talent Acquisition: CLO.ai19.3.2024 10:11:00 EET | Press release

Cielo, the world’s leading Talent Acquisition Partner, today debuts the first generative AI (GenAI) for talent acquisition: CLO.ai. Based on a new set of industry principles for responsible AI use, the intelligent tool allows talent leaders to maximize the power of GenAI for better hiring outcomes fast, while protecting candidates' experiences. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240319387916/en/ “In a competitive, noisy market with many emerging, and sometimes unproven, methodologies and technologies, Cielo has established a responsible approach to artificial intelligence in human resources & talent acquisition. At Cielo, their data scientists, engineers, and talent acquisition experts collaborate to improve GenAI models, assess data for relevancy and accuracy, and operate in a secure environment, thus contributing to an enhanced experience for their clients and candidates. They are not only navigating the landsc

In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.

Visit our pressroom
HiddenA line styled icon from Orion Icon Library.Eye