Ampersand Capital Partners and GHO Capital Partners are set to acquire Avid Bioservices for approximately $1.1 billion. Avid, a biologics contract development and manufacturing organization (CDMO) based in Orange County, California, provides essential services to biotechnology and pharmaceutical companies.

Founded in 2002, Avid is publicly traded on NASDAQ under the ticker CDMO. The acquisition reflects the growing interest in the healthcare sector, particularly in companies that support drug development and manufacturing processes.

Ampersand Capital Partners, established in 1988 and located in Wellesley, Massachusetts, specializes in middle-market private equity investments. The firm focuses on growth equity opportunities in healthcare across North America, Europe, and the Asia-Pacific region. Ampersand typically invests in companies with revenues ranging from $10 million to $200 million, taking either majority or minority stakes.

GHO Capital, or Global Healthcare Opportunities, is a London-based investment firm that specializes in healthcare. The partnership with Ampersand in acquiring Avid underscores their commitment to expanding their portfolios in the life sciences sector.

The deal is anticipated to close in the first quarter of 2025, marking a significant move in the private equity landscape within healthcare. This acquisition is expected to enhance Avid's capabilities and market position, benefiting from the expertise and resources of both Ampersand and GHO.