ClinTec International, a global Clinical Research Organisation, received an £8m majority investment from London AIM market listed private equity firm Elephant Capital plc.
Through this investment, Elephant has acquired a significant minority stake in the company. Managing Partner of Elephant Capital, Gaurav Burman and Director of Elephant Capital, Jim Hauslein, have also made personal co-investments in this transaction.
In conjunction with the deal, Burman, Hauslein and Dr. Anand Burman (the Chairman of FMCG company, Dabur) will take a seat on the company’s board.
Established in 1997 by Dr Rabinder Buttar, the company’s President and CEO, ClinTec operates as a global provider of outsourcing solutions addressing the drug development lifecycle. It has a presence in over 40 developed and emerging countries, covering Western Europe, Central & Eastern Europe, the Middle East and North Africa, Central and South Africa, Latin America, Asia Pacific and the US.
Elephant Capital will help the company expand its operations in India. The partnership will also facilitate expansion into the Asia Pacific region with ClinTec’s long established Bangalore office serving as the regional hub for clinical research activity.