Richmond, Virginia, January 7, 2016 – Harris Williams & Co., a preeminent middle market investment bank focused on the advisory needs of clients worldwide, announces the pending sale of WIL Research to Charles River Laboratories (Charles River; NYSE: CRL) for $585 million. Harris Williams & Co. is serving as the lead financial advisor to WIL Research, a leading provider of non-clinical safety assessment and contract development and manufacturing services to biopharmaceutical and agricultural and industrial chemical companies globally. The pending transaction, which is subject to customary closing conditions, is being led by Geoff Smith, Paul Hepper, Turner Bredrup, Nick Owens and Grace Kingdon of Harris Williams & Co.'s Healthcare & Life Sciences (HCLS) Group.
"WIL Research is widely recognized as a premier global provider of non-clinical services to leading biopharmaceutical and agricultural and industrial chemical companies worldwide with a demonstrated track record of growth driven by its scientific expertise and focus on client service," said Geoff Smith, a managing director in Harris Williams & Co.'s HCLS Group. "Harris Williams & Co. is particularly pleased to have found a great partner in Charles River that will realize substantial strategic benefits through greater scientific capabilities, growing end markets and an enhanced global footprint."
Paul Hepper, a director in Harris William & Co.'s HCLS Group, added, "The transaction is indicative of the strong interest and activity that we have seen from both strategic and financial acquirers in the contract research organization industry. WIL Research, in combination with Charles River, is well positioned to benefit from the growth in pharmaceutical R&D expenditures and the continued trend towards pharmaceutical outsourcing."
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WIL Research is a leading provider of non-clinical safety assessment and contract development and manufacturing (CDMO) services to biopharmaceutical and agricultural and industrial chemical companies worldwide.
Charles River provides essential products and services to help pharmaceutical and biotechnology companies, government agencies and leading academic institutions around the globe accelerate their research and drug development efforts. The company's employees are focused on providing clients with exactly what they need to improve and expedite the discovery, early-stage development and safe manufacture of new therapies for the patients who need them.
