Kester Capital sells Avania to Astorg

Deal typePrivate Equity & Transaction Services
IndustryHealthcare & Life Sciences
Client nameAvania Group BV.

BDO has provided vendor due diligence services in relation to Kester Capital's majority stake sale of Avania to Astorg.

Avania is one of the leading global providers of outsourced clinical trial services specifically focused on medical technology. The Company has experienced strong organic growth thanks to its differentiated proposition in a fast-growing market driven by innovation, increasing regulation and penetration of outsourcing.

Astorg’s investment, alongside an anticipated minority reinvestment by Kester and management, will enable the Company to continue expanding its service offering and geographic coverage, while actively executing M&A opportunities in a fragmented market. 


"BDO has been our FDD partner on the journey with Avania during the last six years, from providing buy side FDD services on our initial investment into Avania, to helping us through a number of successful transactions (via pre-lend VFDD for a re-fi and buy side FDD for various bolt on acquisitions, primarily in the US and Australia), culminating in VFDD on the current majority sale to Astorg.  I have been impressed by the BDO team’s ability to efficiently leverage off its international network, the life sciences sector experience and particularly the collegiate approach to working with us. I look forward to working with BDO in future, including via Kester’s expected ongoing minority stake in Avania as it plans to accelerate development.”

Adam Maidment, Managing Partner, Kester Capital