Livingstone’s Healthcare team has advised private equity fund Magnum Capital Industrial Partners on the acquisition of Apices, a leading contract research organisation (CRO) in Spain. The terms of the deal have not been disclosed.
Founded in 2009, Apices provides a wide range of services to pharmaceutical, biotechnology, veterinary, medical device, and research companies around the world. It offers its clients full assistance in conducting the clinical trials necessary for the approval of new molecules or drugs, with extensive experience in the oncology area. Since its inception, it has participated in more than 200 projects with a portfolio of nearly 80 national and international clients.
Magnum Capital is a Spanish venture capital fund that invests in mid-market companies in the Iberian Peninsula with the aim of adding value to its investees, making them better, stronger, and more competitive companies. To this end, Magnum seeks to leverage the more than 100 years of experience accumulated by its management team, managers of its investees and industrial advisors, while generating substantial returns for its investors.
According to Óscar Salamanca, CEO of Apices, “this is an opportunity we had to seize and we have worked hard to select the right partner for this great challenge. We believe that Magnum will provide us with the necessary knowledge and capabilities to be able to successfully develop this expansive project”.
According to Alberto Bermejo, Partner at Magnum, “we are very excited to support Oscar Salamanca and the entire Apices team in the new phase of the company’s development. Magnum will bring all its experience and expertise in the healthcare sector and the ability to develop international expansion plans, as well as explore acquisitions of complementary companies in Spain and Europe.
Juan Romero, Director at Livingstone, said: “We are delighted that Magnum Capital has entrusted Livingstone with this transaction. The deal is an excellent example of how we can leverage our extensive sector experience and professional advisory services to assist buyers in their evaluation of an opportunity.