Worldwide Clinical Trials: A New Era of Growth and Innovation with Kohlberg & Company

Worldwide Clinical Trials, a leading global contract research organization (CRO), has completed a recapitalization with Kohlberg & Company. This strategic partnership marks a significant milestone for Worldwide, positioning the company for further growth and expansion in delivering best-in-class partnerships for its customers.

Under the terms of the recapitalization, funds managed by Kohlberg, a renowned private equity firm with extensive experience in partnering with management and companies like Worldwide, have acquired a majority stake in the CRO. TJC, Worldwide's sole investor since 2007, will retain a meaningful minority equity stake.

"This investment by Kohlberg, and continued investment by TJC, elevates our approach to best support our customers and continue delivering customized clinical research programs," said Peter Benton, President and CEO of Worldwide Clinical Trials. "Our customers have expressed their satisfaction with our responsive, flexible, and accessible partnership model, and this partnership will enhance our ability to meet their needs."

As part of the transaction, Matt Jennings, Operating Partner of Kohlberg, will assume the position of Chairman of Worldwide's Board of Directors. The existing leadership team, employee base, and customer experience at Worldwide will remain unchanged.

"We look forward to bringing valuable synergies and additional investment opportunities for the CRO in the years to come," said Jennings. "Worldwide's achievements and growth trajectory are unmatched in the industry, and we are excited to support their mission of bringing new life-changing medications and treatments to patients around the world."

Worldwide has demonstrated market-leading year-over-year growth since 2019, driven by its therapeutically focused growth strategy aligned with industry trends and customer needs. The company has experienced consistent increases in its annual Late Phase studies across key therapeutic areas, such as neuroscience, oncology, rare diseases, and cardiometabolic and inflammatory disease. Additionally, Worldwide has made significant investments to expand its Early Phase services and capabilities, including the establishment of a state-of-the-art Bioanalytical Center of Excellence.

"Worldwide Clinical Trials is now a valuable part of Kohlberg's Pharmaceutical and Medical Products & Services industry practice," said Chris Anderson, Partner at Kohlberg. "This partnership will accelerate Worldwide's next phase of growth and enable them to expertly partner with customers to bring new medications and treatments to patients worldwide."

Over the past decade, Worldwide has been consistently recognized as a top CRO in the annual CRO Leadership Awards. In 2023, the company was honored as the year's Most Innovative CRO in TBJ's Life Sciences Awards. These accolades reflect Worldwide's commitment to offering high-value services and its dedication to advancing pharmaceutical research.

With its global footprint spanning nearly 60 countries and a team of over 3,300 experts, Worldwide Clinical Trials is well-positioned to continue its mission of advancing new medications from discovery to reality. The company's capabilities include bioanalytical laboratory services, Phase I-IV clinical trials, and post-approval and real-world evidence studies.

To learn more about Worldwide Clinical Trials and its customized solutions, visit www.Worldwide.com.

About Worldwide Clinical Trials:

Worldwide Clinical Trials is a leading full-service global contract research organization (CRO) that partners with biotechnology and pharmaceutical companies to advance new medications from discovery to reality. The company's capabilities include bioanalytical laboratory services, Phase I-IV clinical trials, and post-approval and real-world evidence studies. With a focus on neuroscience, oncology, rare diseases, and cardiometabolic and inflammatory disease, Worldwide's accessible team of clinicians, scientists, and researchers delivers personalized solutions to each clinical program. For more information, visit www.worldwide.com.

About Kohlberg & Company:

Kohlberg is a prominent U.S. middle-market private equity firm headquartered in Mount Kisco, New York. With a 36-year history, Kohlberg has organized 11 private equity vehicles with a total of over $14 billion in capital commitments. The firm invests in leading middle-market businesses identified through rigorous thematic research and its White Paper Program. For more information, please visit www.kohlberg.com.

About TJC, L.P.:

TJC is a middle-market private equity firm with a 40-year track record of investing in and contributing to the growth of businesses across various industries. With offices in New York, Miami, Chicago, and Stamford, TJC has raised funds with original capital commitments exceeding $22 billion. Supported by its Operations Management Group, TJC initiates and supports operational improvements in portfolio companies. For more information, visit www.tjclp.com.