Elephant Capital buys stake in ClinTec Intl for Rs 58 cr

Elephant Capital, a private equity firm led by Gaurav Baurman, today said it has acquired a minority stake in clinical research firm for 8 million pounds (Rs 58 crore).

"Through this investment, Elephant has entered the attractive clinical research base, where ClinTec operates as a global provider of outsourcing solutions addressing the drug development lifecycle," the company said in a statement.

It, however, did not disclose the exact amount of stake picked up by the private equity firm.

Burman, who is the Managing Partner of Elephant Capital, and James Hauselein a non-executive director of the firm, have also made personal co-investments of 150,000 pounds (Rs 1.09 crore) and 200,000 pounds (Rs 1.45 crore) respectively in the transaction, it added.

"We are looking forward to a long-term partnership with ClinTec International and building on all that has been achieved to date," Burman said.

said the partnership will facilitate expansion plans of Clintec International in India as well as in the Asia Pacific region.

Besides, as part of the transaction, the UK based-ClinTec International said Gaurav Burman, Anand Burman and Jim Hauslein will take up seats on the board.

"We value the strategic input of Elephant, the Burman family and their wealth of experience in Dabur, as well as the extensive experience of our US Board Director, James Hauslein," Rabinder Buttar President and CEO of ClinTec International said.

Founded in 1997, ClinTec International now operates in around 40 countries across the globe.

image
Business Standard
177 22
Business Standard

Elephant Capital buys stake in ClinTec Intl for Rs 58 cr

Press Trust of India  |  New Delhi 



Elephant Capital, a private equity firm led by Gaurav Baurman, today said it has acquired a minority stake in clinical research firm for 8 million pounds (Rs 58 crore).

"Through this investment, Elephant has entered the attractive clinical research base, where ClinTec operates as a global provider of outsourcing solutions addressing the drug development lifecycle," the company said in a statement.

It, however, did not disclose the exact amount of stake picked up by the private equity firm.

Burman, who is the Managing Partner of Elephant Capital, and James Hauselein a non-executive director of the firm, have also made personal co-investments of 150,000 pounds (Rs 1.09 crore) and 200,000 pounds (Rs 1.45 crore) respectively in the transaction, it added.

"We are looking forward to a long-term partnership with ClinTec International and building on all that has been achieved to date," Burman said.

said the partnership will facilitate expansion plans of Clintec International in India as well as in the Asia Pacific region.

Besides, as part of the transaction, the UK based-ClinTec International said Gaurav Burman, Anand Burman and Jim Hauslein will take up seats on the board.

"We value the strategic input of Elephant, the Burman family and their wealth of experience in Dabur, as well as the extensive experience of our US Board Director, James Hauslein," Rabinder Buttar President and CEO of ClinTec International said.

Founded in 1997, ClinTec International now operates in around 40 countries across the globe.

RECOMMENDED FOR YOU

Elephant Capital buys stake in ClinTec Intl for Rs 58 cr

Elephant Capital, a private equity firm led by Dabur group promoter Gaurav Baurman, today said it has acquired a minority stake in clinical research firm ClinTec International for 8 million pounds (Rs 58 crore).

Elephant Capital, a private equity firm led by Gaurav Baurman, today said it has acquired a minority stake in clinical research firm for 8 million pounds (Rs 58 crore).

"Through this investment, Elephant has entered the attractive clinical research base, where ClinTec operates as a global provider of outsourcing solutions addressing the drug development lifecycle," the company said in a statement.

It, however, did not disclose the exact amount of stake picked up by the private equity firm.

Burman, who is the Managing Partner of Elephant Capital, and James Hauselein a non-executive director of the firm, have also made personal co-investments of 150,000 pounds (Rs 1.09 crore) and 200,000 pounds (Rs 1.45 crore) respectively in the transaction, it added.

"We are looking forward to a long-term partnership with ClinTec International and building on all that has been achieved to date," Burman said.

said the partnership will facilitate expansion plans of Clintec International in India as well as in the Asia Pacific region.

Besides, as part of the transaction, the UK based-ClinTec International said Gaurav Burman, Anand Burman and Jim Hauslein will take up seats on the board.

"We value the strategic input of Elephant, the Burman family and their wealth of experience in Dabur, as well as the extensive experience of our US Board Director, James Hauslein," Rabinder Buttar President and CEO of ClinTec International said.

Founded in 1997, ClinTec International now operates in around 40 countries across the globe.

image
Business Standard
177 22
Widgets Magazine

More News

Widgets Magazine
Widgets Magazine

Upgrade To Premium Services

Welcome User

Business Standard is happy to inform you of the launch of "Business Standard Premium Services"

As a premium subscriber you get an across device unfettered access to a range of services which include:

  • Access Exclusive content - articles, features & opinion pieces
  • Weekly Industry/Genre specific newsletters - Choose multiple industries/genres
  • Access to 17 plus years of content archives
  • Set Stock price alerts for your portfolio and watch list and get them delivered to your e-mail box
  • End of day news alerts on 5 companies (via email)
  • NEW: Get seamless access to WSJ.com at a great price. No additional sign-up required.
 

Premium Services

In Partnership with

 

Dear Guest,

 

Welcome to the premium services of Business Standard brought to you courtesy FIS.
Kindly visit the Manage my subscription page to discover the benefits of this programme.

Enjoy Reading!
Team Business Standard