Home News & Events News overview Kester Capital Announces investment in Factory-CRO

Joris Bannenberg

CMO & Medical Director

June 1, 2016

Kester Capital Announces investment in Factory-CRO

Kester Capital is pleased to announce an investment in Factory-CRO, a leading CRO focused on the medical device market.

Factory-CRO was founded over 20 years ago by Dr. Dirk Meijer and Dr. Joris Bannenberg. Since then, Factory-CRO has grown to become a leading CRO in the medical device sector. Headquartered in Bilthoven, Netherlands, Factory-CRO conducts trials for its international customer base across the globe. Kester Capital will become a significant shareholder in Factory-CRO and support the business’ growth, both organically and by acquisition, as it looks to build on its unique expertise and impressive track record.

Commenting on the transaction, Dirk Meijer said, “We are very pleased to have secured an investment in our business from Kester Capital. The team at Kester Capital have a detailed understanding of our business and market through their past investment in the sector and we are looking forward to their support as we take the business forward. We are confident that our existing and future customers will benefit from the additional investments we will be making in our business. This includes our US office, which we recently opened, and a number of exciting acquisition opportunities which will extend our reach and expertise in Europe, the USA and Asia-Pacific.”

Adam Maidment, founding partner at Kester Capital said, “Dirk and Joris have built an exceptional business in Factory-CRO and we are delighted to have the opportunity to partner with them to deliver the next phase of the business’ growth. The market for medical device trial expertise is highly specialised and continues to evolve as the regulatory environment develops. Factory-CRO is a leading authority in the medical device arena and has a strong track record of delivering results for its customers.”

ING provided debt facilities in support of the transaction.

Kester Capital was advised by BDO (M&A and FDD), AVOS Consulting (CDD), Travers Smith and NautaDutilh.

About Factory-CRO

Factory-CRO is a leading, full service contract research organization focused on the management of clinical studies for medical devices, IVDs, biologicals, and device-drug combinations internationally. Founded in 1994, the business offers a full suite of trial management services to its global client base across a broad range of therapeutic areas, including orthopaedic, cardiovascular, dermatology and aesthetics.

About Kester Capital LLP

Kester Capital targets lower mid-market private equity investments of £5–25 million. It was established in 2007 as Greenhill Capital Partners Europe, the European private equity arm of Greenhill & Co and is currently investing its second fund. Current and past investments include: Chiltern International; Frontier Medical; Briefing Media; and Garrets.

For further enquiries please contact

Kester Capital:
Adam Maidment / Jeniv Shah     +44 203 747 5700

Dirk Meijer / Joris Bannenberg    +31 30 229 2727

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