Livingstone’s healthcare team has advised private equity fund Magnum Industrial Partners on acquiring Apices, a leading contract research organization (CRO) in Spain. Terms of the agreement are undisclosed.
Founded in 2009, Apices provides a wide range of services to pharmaceutical, biotechnology, veterinary, and medical device companies worldwide. Apices conducts clinical research and studies required for regulatory approval of new drugs with particularly extensive experience in oncology. Since its founding, they have been involved in more than 200 projects with a portfolio of around 80 national and international customers.
Magnum Industrial Partners is a Spanish venture capital fund that invests in medium-sized companies in the Iberian Peninsula to increase their value and make them better, stronger, and more competitive. To that end, Magnum leverages its management team’s more than 100 years of experience, its investee company managers, and industry advisors while generating significant returns for its investors.
Oscar Salamanca, CEO of Apices, said, “This is an opportunity we had to seize – and we have worked hard to find the right partner for this great challenge. We believe Magnum provides us with the necessary knowledge and skills to help us successfully build out our long-term growth strategy.”
Alberto Bermejo, Partner at Magnum, commented, “We are very pleased to support Óscar Salamanca and the entire Ápices team in the new phase of the company’s development. Magnum will bring all its experience and knowledge in the healthcare sector and will be able to develop international expansion plans as well as consider acquiring complementary companies in Spain or Europe.”
Juan Romero, Director at Livingstone, stated, “We are delighted that Magnum has retained Livingstone for this transaction. The transaction is an excellent example of how we can leverage our deep industry expertise along with professional advisory services to assist buyers in evaluating an opportunity.”