Greenhill Capital Partners Europe LLP Completes Investment in Chiltern International Group Limited
25 January 2010
London, England, 25 January 2010 — Greenhill Capital Partners Europe LLP (“GCPE”) is pleased to announce the completion of an investment in Chiltern International Group Limited (“Chiltern”), a leading global contract research organisation. GCPE has acquired its stake in Chiltern for an undisclosed price from one of the investors who backed the management buy-in (MBI) of Chiltern in 2006. GCPE intends to make further capital available to the company to facilitate growth by acquisition.
Chiltern was acquired in 2006 by a team headed by the Executive Chairman, Nick Thornton, and CEO, Glenn Kerkhof. Since then, Chiltern has grown rapidly through both organic and acquisitive growth, expanding its global footprint and service offering. Chiltern provides clinical trial management and related services to a wide range of customers in the pharmaceutical and biotechnology space.
Adam Maidment, Principal of GCPE, who will join the Board of Chiltern, said:
“Nick, Glenn and the management team at Chiltern have developed an exceptional business over the last three years and we are delighted to have the opportunity to support them in the continued growth and success of the business.”
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About Greenhill Capital Partners Europe
GCPE makes private equity investments in mid-market companies primarily in the United Kingdom and Europe. It generally makes controlling or influential minority investments in companies with enterprise values of £25 million to £250 million. Chiltern is the fourth investment from the GCPE fund. Formed in 2006 as a subsidiary of Greenhill & Co., Inc. (NYSE: GHL), the GCPE business is now managed by the operating partners as part of a global private equity investment firm called GCP Capital Partners, with offices in London and New York. GCP Capital Partners is the successor to Greenhill’s merchant banking business founded in 2000.
About Chiltern International Group
Established in 1982 and headquartered in the UK, Chiltern is a leading global contract research organisation. The Company has extensive experience running and staffing international clinical trials across a broad therapeutic range for a wide variety of clients. Chiltern employs ca. 1300 people in 23 offices across 16 geographies, including the United Kingdom, the United States, Germany, France, Italy, Spain, Russia, Poland, Czech Republic, Ukraine, India, and South Africa. Chiltern has a broad service offering covering Early to Late Phase clinical trial management, Medical and Regulatory Affairs, Biometrics, Data Management and Resourcing Solutions.