Medpace Announces Plans to Enter Into an Equity Recapitalization with Affiliates of CCMP Capital Advisors
News May 24, 2011
Medpace, Inc. has announced a plan to complete an equity recapitalization with affiliates of CCMP Capital Advisors, LLC. This relationship will allow Medpace to add global operational depth and continue their reputation as a company well known for therapeutic and operational excellence in conducting Phase I-IV clinical studies.
"Our relationship with CCMP will bring many benefits to our customers, employees, and shareholders," said August Troendle, President and CEO, Medpace.
"The transaction will provide resources to make the strategic long-term investments that are needed to advance our leadership position, grow the core business, and expand our global reach."
Medpace expects to finalize the deal in June 2011. Following the closing, CCMP will own 80% of the company and the current Medpace management team will own a 20% equity share.
August J. Troendle will remain as the President and CEO and the current management team will remain in place. Medpace will continue to be headquartered in Cincinnati, OH.