Arnold & Porter Advises Avantor on Divestiture of Clinical Services Business to Audax

Arnold & Porter recently advised Avantor, Inc., a global provider of mission-critical products and services to customers in the life sciences and advanced technology industries, on the signing of a definitive agreement to divest its clinical services business — which includes kitting, bio repository, and related equipment and ancillaries — to Audax Private Equity, a leading middle market investment firm. The transaction is valued at approximately $650 million.

The divestiture will advance Avantor’s ongoing business transformation and will enhance its focus on strategic growth opportunities within its lab and production businesses. The transaction is expected to close in the fourth quarter of 2024.

The Arnold & Porter team was led by partners Marisa White and Derek Stoldt, co-chair of the firm’s Corporate & Finance practice, and senior associates Grace Ansah and LaRona Kitzinger. The team also included partners Laurie Abramowitz, Tracy Belton, Henry Clinton-Davis, Debbie Feinstein, Abeba Habtemariam, Eric Rothman, and Jeremy Willcocks, senior counsel Sheryl Gittlitz, counsel Nancy Perkins, Ludovica Pizzetti, and Kathleen Wechter, senior associates Kathryn Geoffroy, Reuven Graber, and Emil Hristov, and associate Emelia Morris.