H.I.G. Capital News
John Von Bargen
500 Boylston Street
Boston, MA 02116
H.I.G. Capital Completes Sale of Taconic Biosciences
BOSTON – November 1, 2022 – 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 (“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.”
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.
About Taconic Biosciences
Taconic Biosciences, Inc. is one of the world’s leading suppliers of murine research models for pharmaceutical, biotechnology, CRO, and academic research clients. Specializing in genetically engineered models, precision research models, and integrated model design and colony management services, Taconic supports research in oncology, immunology, neurology, and a variety of other established and emerging therapeutic areas. Headquartered in Rensselaer, NY, with operations in Indiana, Germany, and Denmark, Taconic also maintains distributor relationships in Asia and has global shipping capabilities to provide models almost anywhere in the world. For more information, please visit www.taconic.com.
About H.I.G. Capital
H.I.G. is a leading global alternative assets investment firm with $52 billion of equity capital under management.* Based in Miami, and with offices in New York, Boston, Chicago, Dallas, Los Angeles, San Francisco, and Atlanta in the U.S., as well as international affiliate offices in London, Hamburg, Madrid, Milan, Paris, Bogotá, Rio de Janeiro and São Paulo, H.I.G. specializes in providing both debt and equity capital to small and mid-sized companies, utilizing a flexible and operationally focused/ value-added approach:
- H.I.G.’s equity funds invest in management buyouts, recapitalizations and corporate carve-outs of both profitable as well as underperforming manufacturing and service businesses.
- H.I.G.’s debt funds invest in senior, unitranche and junior debt financing to companies across the size spectrum, both on a primary (direct origination) basis, as well as in the secondary markets. H.I.G. is also a leading CLO manager, through its WhiteHorse family of vehicles, and manages a publicly traded BDC, WhiteHorse Finance.
- H.I.G.’s real estate funds invest in value-added properties, which can benefit from improved asset management practices.
- H.I.G. Infrastructure focuses on making value-add and core plus investments in the infrastructure sector.
Since its founding in 1993, H.I.G. has invested in and managed more than 300 companies worldwide. The firm's current portfolio includes more than 100 companies with combined sales in excess of $30 billion. For more information, please refer to the H.I.G. website at www.higcapital.com.
* Based on total capital commitments managed by H.I.G. Capital and affiliates.