Avid Bioservices Acquired by GHO and Ampersand

• HO Capital Partners and Ampersand Capital Partners have completed the acquisition of Avid Bioservices, a biologics CDMO.

• Avid’s common stock has ceased trading and will be delisted from Nasdaq as part of the all-cash deal.

Avid Bioservices has officially been acquired by GHO Capital Partners and Ampersand Capital Partners. The acquisition supports Avid’s next phase of growth, with a focus on service expansion, talent investment, and broader geographic reach.

Avid, a biologics contract development and manufacturing organisation (CDMO), has seen strong growth in recent years, providing full lifecycle manufacturing capabilities to biotechnology and pharmaceutical clients. The company has made substantial investments in bioprocess optimisation, analytical testing, and regulatory compliance, strengthening its position in the sector.

The acquisition aligns with GHO’s broader strategy of enhancing CDMO capabilities through targeted investments. GHO’s portfolio includes companies such as Ardena, Sterling Pharma Solutions, RoslinCT, and Alcami Corporation. The firm’s approach focuses on technological expansion, acquisitions, and transatlantic growth within the contract manufacturing sector.

“We are delighted to start 2025 with the completion of this transaction, our first public to private deal,” said Alan MacKay and Mike Mortimer, Managing Partners of GHO. “Avid perfectly exemplifies a company operating in high-growth markets, supporting biotech R&D and the commercialisation of biologics.”

Nick Green, President and CEO of Avid, stated that the company’s success comes from adapting to customers’ needs. With GHO Capital and Ampersand as new owners, Avid gains resources to accelerate growth, enhance capabilities, expand services, and deliver more value in this next phase.

The deal was first announced on 7 November 2024, when GHO and Ampersand entered into a definitive merger agreement to acquire Avid. As a result of the acquisition, Avid’s stockholders will receive $12.50 per share in cash, and the company’s common stock has been delisted from Nasdaq.