Reuters
KKR & Co LP said on Wednesday it had agreed to acquire ReSearch Pharmaceutical Services Inc (RPS) from private-equity peer Warburg Pincus LLC, marking its second announced investment in a global contract research organization in as many months.
Terms of the deal were not disclosed, but a person familiar with the matter said RPS had earnings before interest, tax, depreciation and amortization of about $30 million.
In June, KKR said it was buying clinical research group PRA International from Genstar Capital LLC for an undisclosed amount, but a source familiar with the matter said the agreed price was around $1.3 billion.
Upon closing both deals, KKR plans to merge PRA and RPS, with PRA Chief Executive Officer Colin Shannon leading the combined company, according to a press release issued by KKR. The deal is expected to close in the third quarter.