The Firm is representing Kohlberg Kravis Roberts & Co. in connection with its acquisition of PRA International from Genstar Capital, LLC. The transaction was announced on June 24, 2013. The transaction, which is subject to regulatory approvals and other customary closing conditions, is expected to close in the third quarter of 2013. Financial terms were not disclosed.
PRA International, headquartered in Raleigh, NC, is a leading international CRO with over 5,300 employees offering services in 80+ countries. The company provides services on a contract basis to the pharmaceutical and biotechnology industries. PRA offers comprehensive services including the filing of Investigational New Drug and similar regulatory applications, management and implementation of Phase I through IV clinical trials, preparation and submission of New Drug Applications, and post-marketing surveillance on an international basis.
The Simpson Thacher team for the transaction includes Ravi Agarwal, Andrew Wolstan and Phong Quan (M&A); James Cross, Dan Kay and Sarah Naseman (Credit); Richard Fenyes (Capital Markets); Joe Tringali and Ellen Frye (Antitrust); Adeeb Fadil (Environmental); Jeannine McSweeney, and Eric Wolf (Executive Compensation and Employee Benefits); Lori Lesser and Marcela Robledo (IP); Krista McManus (Real Estate); and Steve Todrys and Jodi Sackel (Tax). Summer associates Jessica Asrat, Alyssa Martin, Jacob Vadeboncoeur and Clark Warthen also provided valuable assistance.