West Palm Beach, FL, May 2014: Comvest Partners (“Comvest”) is pleased to announce that Comvest Investment Partners II (“Comvest II”) has completed the sale of portfolio company Aptiv Solutions (“Aptiv”) to ICON plc. Aptiv Solutions, a pharmaceutical contract research organization (“CRO”), was originally acquired by Comvest at the end of 2005 as Averion International, and subsequently merged into Aptiv to create a CRO platform of greater scale. Aptiv was the last remaining portfolio company in Comvest II.
Aptiv Solutions is a global development services company focused on enhancing clinical trial decision-making, efficiency and productivity for pharmaceutical, biotech and medical device sponsors. It is the only CRO to offer design, simulation and execution of adaptive clinical trials and a novel statistical sampling approach to risk-based monitoring. These services span the entire product development cycle from first in human through regulatory approval to post-marketing. Aptiv has more than 850 professionals in North America, Eastern and Western Europe, Israel and Japan.
ICON plc is a global provider of outsourced development services to the pharmaceutical, biotechnology and medical device industries. The company specialises in the strategic development, management and analysis of programs that support clinical development – from compound selection to Phase I-IV clinical studies. ICON currently has approximately 10,300 employees, operating from 76 locations in 37 countries.
About Comvest Partners:
Comvest Partners, with $1.2 billion of assets under management, provides flexible financing solutions to lower middle-market companies through its equity and debt funds, often meeting time-critical and complex funding requirements. Our firm includes seasoned, senior level operating executives who partner with managers and owners of companies to operationally improve businesses and create long-term value. Since 2000, Comvest has invested more than $1.9 billion of capital in over 130 public and private companies. Please visit www.comvest.com.