Chiltern International, the Slough-based clinical research group, is being put up for auction with a price tag in excess of £200 million, according to reports.
Mergermarket reported that the Berkshire company, which has a global workforce of more than 1,300 staff, is being sold by current owners, the private investment firm Czura Thornton. It is said to have appointed Goldman Sachs to explore auctioning off the business, in the hope of doubling the investment the firm made in the company when it purchased Chiltern five years ago. It has been claimed that Chiltern has been up for sale for the last six months.
No official statement has yet been made by Chiltern, but it is thought that potential bidders for the company could include CCMP Capital Advisors. CCMP has recently bought the smaller US-based firm, Medpace, and is looking to expand its footprint in Europe.
Since being founded in 1982, Chiltern International has become one of the world's top contract research organisations, conducting research at bases in more than 40 countries across the globe. It provides full clinical research services, including global clinical development, biometric, and medical and regulatory affairs. Its revenue for the year ending March 2009 was £80.9 million and EBITDA was £9 million, according to a previous report.
