Arlington Capital Explores Sale of CRO Everest Clinical Research

• Arlington Capital Partners is preparing to sell Everest Clinical Research, a Toronto-based CRO, according to sources cited by Axios.

• The business is expected to be marketed at approximately $45 million in EBITDA, with sell-side advisors recently interviewed.

Arlington Capital Partners is preparing a potential sale of Everest Clinical Research, a Toronto-based contract research organization (CRO), according to people familiar with the process. The private equity firm has recently interviewed sell-side advisors as it moves toward formally marketing the business. 

Everest Clinical Research is expected to be marketed at approximately $45 million in EBITDA, suggesting Arlington is positioning the asset for private equity buyers or strategic CRO acquirers. The sale process has not yet been formally launched, according to the report. 

Everest provides clinical research services to pharmaceutical, biotechnology, and medical device companies. The CRO has expanded its global footprint in recent years through acquisitions and operational growth under Arlington’s ownership. 

Arlington Capital acquired a majority stake in Everest Clinical Research in 2020 as part of its healthcare investment strategy. Since then, the firm has supported growth initiatives, including geographic expansion and capability development. 

The potential sale reflects ongoing consolidation and investor interest in the CRO market, where private equity firms continue to pursue clinical development service providers amid sustained outsourcing demand from pharmaceutical and biotechnology companies.