THL Partners will acquire Celerion from H.I.G. Capital for $1.8 billion, according to news releases and industry reports.
Celerion, formed in 2010 and based in Lincoln, Nebraska, is a global provider of clinical pharmacology and bioanalytical sciences.
THL, founded in 1974 and based in Boston, is a private equity firm investing in middle market growth companies in a few sectors, including healthcare. The firm typically targets companies with enterprise values between $250 million and $2.5 billion.
H.I.G., founded in 1993 and based in Miami, pursues a wide range of investments in healthcare and many other industries. The firm has flexibility on investment size, including interest in pre-EBITDA businesses. Within healthcare, the firm targets companies in the provider services, hospital/major facilities and life sciences/pharmaceutical industries.
The transaction is expected to close later this year.