Avid Bioservices to be Acquired by GHO Capital Partners and Ampersand Capital Partners in $1.1 Billion Private Equity Deal

Acquisition Details:
Avid Bioservices, a biologics contract development and manufacturing organization (CDMO), is being acquired by GHO Capital Partners and Ampersand Capital Partners in an all-cash transaction valued at approximately $1.1 billion[1][2][3].

Purchase Price:
Shareholders will receive $12.50 per share, representing a 13.8% premium to Avid's closing price on November 6, 2024, and a 21.9% premium to the company's 20-day volume-weighted average share price[1][2][3].

Transaction Multiple:
The deal equates to a 6.3x multiple to consensus FY2025E revenue[2][3].

Expected Completion:
The transaction is expected to close in the first quarter of 2025, subject to stockholder and regulatory approvals[1][2][3].

Post-Acquisition Status:
Upon completion, Avid will become a private company while maintaining its name and brand[1][2][3].

Buyer Background:
GHO Capital Partners and Ampersand Capital Partners are private equity firms with significant experience in the life sciences sector, particularly in CDMO investments[1][2].

Avid Bioservices Background:
Avid Bioservices is a dedicated biologics CDMO that provides high-quality development and manufacturing services to biotechnology and pharmaceutical companies[1][2].