H.I.G. Capital (“H.I.G.”), a leading global alternative investment firm with $52 billion of equity capital under management, is pleased to announce the sale of its portfolio company Taconic Biosciences (Formerly Known As Taconic Farms, Inc.) (“Taconic” or the “Company”) to Avista Capital Partners (“Avista”). Terms of the transaction were not disclosed.
Headquartered in Rensselaer, New York, and founded in 1952, Taconic is a leading global provider of murine research models and services to the pharmaceutical, biotechnology, CRO, and academic research industries. The Company specializes in genetically engineered models (GEMs), precision research models, and integrated model design and colony management services.
H.I.G. acquired Taconic in February 2019 from the Company’s founders. Through partnership with the H.I.G. team, Taconic achieved outstanding growth through continued focus on GEMs, significant investments in optimizing existing facilities, as well as greenfield expansion at its Indiana facility. The Company significantly enhanced its technological capabilities across internal functions and its customer-facing platform, and implemented several R&D and new product development initiatives positioning the Company for sustainable long-term growth.
Nancy Sandy, Taconic’s CEO, said, “This is a real endorsement of our team as well as our products and services. The Taconic team benefited from H.I.G.’s support and partnership as we worked to achieve our shared growth goals and strategic mission. Alongside H.I.G., we have built a strong foundation for the next phase of Taconic’s evolution, and we are excited to join Avista in that next chapter.”
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John Von Bargen, Managing Director at H.I.G. Capital, added, “We have had an exceptional partnership with the Taconic management team and are proud of our association with the Company and its dedication to accelerating advancements in the biopharma community. Taconic has established itself as a market leader and is well positioned for continued growth under its new sponsor Avista. We thank Taconic’s CEO Nancy Sandy and the rest of the management team for our highly collaborative and effective relationship and wish them continued success for the next phase of development.”
Robert W. Baird & Co. served as lead financial advisor to Taconic and Perella Weinberg Partners served as co-advisor. Paul Hastings LLP served as legal advisor to the Company.
Source: Biospace
