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KCAS Sells To Vitruvian

BroadOak Capital Partners advised KCAS Bioanalytical and Biomarker Services (“KCAS”) on the sale of the company to Vitruvian. KCAS is a leading contract research organization providing comprehensive GLP-compliant bioanalytical and biomarker development testing services for the biotech, pharmaceutical, and animal health industries.

The full press release is below.

Vitruvian Partners announces strategic growth investment in KCAS Bioanalytical and Biomarker Services

Vitruvian’s acquisition enables KCAS to further accelerate global growth both through acquisitions and expansion of its U.S. operations

April 15, 2021 01:00 PM Eastern Daylight Time: LONDON–(BUSINESS WIRE)–Vitruvian Partners, one of the world’s leading growth-focused investment firms, announced that it has acquired a majority ownership stake in KCAS Bioanalytical and Biomarker Services (KCAS), located in the Kansas City, Kansas metropolitan area. Both management and current majority shareholders KVCI are making a significant reinvestment in the company. Other financial terms of the transaction were not disclosed.

KCAS is a leading U.S.-based Contract Research Organization providing comprehensive GLP-compliant bioanalytical and biomarker development testing services for the biotech, pharmaceutical, and animal health industries. The company offers a complete range of bioanalytical services from early discovery support through registration, providing expertise in biological (large molecule) and synthetic (small molecule) drug candidates. Vitruvian’s investment positions KCAS to continue growing its operations in Kansas City, including with a [70,000] sq ft new facility; continue the rapid hiring of top scientific talent and focus on outstanding customer service; and accelerate internationalization including through acquisitions. Vitruvian’s global reach and significant available capital positions KCAS as a platform for accelerated future growth through acquisitions and continued expansion of its current operations.

John Bucksath, CEO of KCAS, commented, “We are delighted to be working with Vitruvian as we look to advance both organic and inorganic plans to support the growing demand for our services. With additional capital, expertise, and a global reach, Vitruvian sets the stage for the organization to accelerate into the future as a prominent large molecule focused CRO services provider to the drug development industry. With heavy focus on talent acquisition and investment in capabilities for both technical and systems growth, we know that Vitruvian’s support and guidance will help enable our continued success. We look forward to continuing to grow our business with a very strong partner.”

Sophie Bower-Straziota, Partner at Vitruvian Partners, comments, “KCAS has built a very strong reputation in bioanalytical services, thanks to outstanding leadership from John and the support from KVCI. The company is an excellent fit with our investment strategy of backing best-in-class management teams leading companies benefiting from strong market tailwinds with internationalization opportunities. Vitruvian has invested in KCAS to help build on the excellent foundations, and hence support the increasing needs of the company’s growing pharmaceutical and biotech clients. As the drug development market continues to evolve, our investment creates the opportunity to broaden capabilities, advance geographical reach, provide the resources to scale the business, and make strategic acquisitions.”

Brian Lueger, Konza Valley Capital Inc., comments, “We are excited to continue to invest alongside Vitruvian Partners. Our initial investment in KCAS helped the organization grow to where it is today, and we are proud of the growth and success of the company to date. We believe Vitruvian will help lead the Company to its potential and we are continuing with minority investment to support the Company in its next chapter.”

Vitruvian was advised by William Blair, Kirkland & Ellis LLP, FTI Consulting, Bain Consulting and PwC. KVCI and KCAS were advised by BroadOak Capital and Polsinelli.

Original Press Release