GHO Capital Partners and Ampersand Capital Acquire Avid Bioservices for $1.1 Billion

Ropes & Gray represented GHO Capital Partners and Ampersand Capital Partners in the acquisition of Avid Bioservices for $1.1 billion. The all-cash transaction was announced Nov. 6 in a press release.

 The $12.50 per share purchase price represents a 13.8% premium to Avid’s closing share price of $10.98 on Nov. 6, and a 21.9% premium to the company's 20-day volume-weighted average share price for the period ending Nov. 6.

GHO Capital Partners is a leading specialist healthcare investment advisor based in London.  Ampersand Capital Partners, founded in 1988 and based in Boston and Amsterdam, is a middle-market private equity firm dedicated to growth-oriented investments in the healthcare sector. Ampersand has $3 billion of assets under management.

Avid is a dedicated biologics contract development and manufacturing organization working to improve patient lives by providing high quality development and manufacturing services to biotechnology and pharmaceutical companies.

The team was led by private equity partners Tim Castelli, Neill Jakobe and Andrew Pomranke, M&A partners Zach Blume and Sarah Young, employment partner Jen Cormier, tax partner Elaine Murphy, IP transactions partner Emily Karlberg, data privacy partner Ed McNicholas, FDA partner Josh Oyster, health care partner Christina Bergeron, anti-corruption partner Brendan Hanifin, antitrust partner Samer Musallam, FDI partner Ruchit Patel, and environmental partner Peter Alpert.