CPE News (12/7/2020) – Arlington Capital Partners has acquired a majority stake in Everest Clinical Research Corporation, alongside Everest’s founding shareholders and senior management who will continue to lead the Everest.
Financial terms were not disclosed.
Founded by Irene Zhang in 2004, Markham, Ontario based Everest is a leading contract research organization (CRO) providing a comprehensive suite of mission-critical clinical research services to the worldwide pharmaceutical, biotechnology, and medical device industries across Phase I-IV trials. Everest has over 300 employees operating from its Toronto, Little Falls, New Jersey, and Shanghai, China offices.
In August 2019, Everest Clinical Research received $100,000 from Federal Government’s Women Entrepreneurship Fund which helps women-owned and led businesses.
Arlington Capital Partners is a Washington, DC based private equity firm that is currently investing out of Arlington Capital Partners V, L.P., a $1.7 billion fund.
photo credit: Everest Clinical Research
Arlington Capital, in Partnership with Management, Announces Investment in Everest Clinical Research Corporation
December 07, 2020 07:00 AM Eastern Standard Time
WASHINGTON & TORONTO–(BUSINESS WIRE)–Arlington Capital Partners (“Arlington Capital” or “Arlington”), a Washington, DC-based private equity firm, and Everest Clinical Research Corporation (“Everest” or the “Company”) today announced that Arlington has made a majority investment in Everest alongside Everest’s founding shareholders and senior management who will continue to lead the Company.
Founded in 2004 and headquartered in Toronto, Canada, Everest is a leading contract research organization (“CRO”) providing a comprehensive suite of mission-critical clinical research services to the worldwide pharmaceutical, biotechnology, and medical device industries across Phase I-IV trials. Throughout the Company’s history, Everest has focused on providing exceptional quality, customer service, and on-time delivery to its partners to advance life-changing research. Everest employs over 300 employees across its Toronto, Ontario, Canada; Little Falls, New Jersey, USA; and Shanghai, China offices.
Malcolm Little, a Partner at Arlington, said, “We are excited to embark upon this new partnership with the impressive Everest team. Everest has built an exceptional organization predicated on continuous innovation, technical excellence, and unwavering quality and customer support. Everest’s expertise in biostatistics and clinical data management together with the Company’s extensive track record of supporting many of the world’s most successful pharmaceutical companies across a diverse array of therapeutic areas and clinical phases provides a strong platform for further growth.”
“We are overjoyed to partner with Arlington as we step forward into our next phase of growth,” said Irene Zhang, Founder and CEO of Everest. “We chose to partner with Arlington because of its long track record of success investing in and scaling healthcare businesses, its deep expertise in the pharmaceutical services sector, and its reputation for partnering with founder-owned and operated businesses. We are extremely pleased to work together with Arlington as they share our vision for expanding Everest’s capabilities to better serve our customers while at the same time maintaining our unique culture. Arlington’s ability to provide significant strategic and financial support will further enable Everest to expand our service lines, grow our employee base, and most importantly, provide best-in-class support to our customers throughout the lifecycle of their clinical trials.”
Erica Son, a Vice President at Arlington, added, “We have been very impressed by the Company’s long track record of outstanding bookings and backlog growth, both of which have grown consistently with new and existing customers through the ongoing COVID-19 pandemic. Furthermore, the Company’s diversified backlog provides significant revenue visibility and embedded growth opportunities.”
About Arlington Capital Partners
Arlington Capital Partners is a Washington, DC-based private equity firm that is currently investing out of Arlington Capital Partners V, L.P., a $1.7 billion fund. The firm has managed approximately $4.0 billion of committed capital via five investment funds. Arlington is focused on middle market investment opportunities in growth industries including healthcare, government services and technology, aerospace & defense, and business services and software. The firm’s professionals and network have a unique combination of operating and private equity experience that enable Arlington to be a value-added investor. Arlington invests in companies in partnership with high quality management teams that are motivated to establish and/or advance their Company’s position as leading competitors in their field. www.arlingtoncap.com
About Everest Clinical Research Corporation
Everest Clinical Research Corporation (“Everest”) is a full-service contract research organization (“CRO”) providing a broad range of expertise-based clinical research services to worldwide pharmaceutical, biotechnology, and medical device industries. Everest serves some of the best-known companies and works with many of the most advanced drugs, biologics, and medical devices in development today. Founded in 2004, Everest has a strong foundation as a statistical and data management center of excellence. Building on this foundation, Everest has successfully developed and established itself as a full-service CRO. Operating primarily in North America, with headquarters located in Toronto, Ontario, Canada, a second office in Little Falls, New Jersey, USA and a third office in Shanghai, China, Everest is known in the industry for its high quality deliverables, superior customer service, and flexibility in meeting clients’ needs. www.ecrscorp.com
Malcolm Little & Erica Son
Arlington Capital Partners
5425 Wisconsin Avenue, Suite 200
Chevy Chase, MD 20815