CONCORD, Ohio, Nov. 18, 2014 /PRNewswire/ -- A northeast-Ohio based investment fund has acquired the parent company of Ricerca Biosciences, LLC on November 14, 2014. After conducting a thorough process to evaluate strategic acquisition offers for the Company, the Ricerca Biosciences, LLC Board of Directors awarded the purchase to Main Market Partners, LLC, a middle-market growth investment fund based in the same region. According to the Company, the award was based on value, strategic commitment to the Company's clients, employees, and external stakeholders, and an aggressive timetable for closing the transaction. Terms of the sale were not disclosed.
According to Clifford W. Croley of Main Market Partners and the new CEO of Ricerca, "We are greatly impressed with Ricerca's excellent scientific track record. This acquisition represents our strong commitment to continue Ricerca's solid scientific project research in the Drug Safety, Chemical Development, and Agrochemical market segments. We intend on introducing an aggressive growth strategy for the Ricerca business while at the same time enhancing the technical service offering of the Company."
Ricerca collaborates with pharmaceutical and biopharmaceutical developers by providing a comprehensive, integrated suite of services to accelerate drug development. The Company combines non-clinical support services with analytical and chemical development services to bring drug candidates through all phases of development. Ricerca frequently supports its clients through the entire R&D process to bring drugs and compounds through development to manufacturing and ultimately to the market. In addition, Ricerca's Agrochemicals business offers decades of experience and extensive capabilities in testing compounds developed for agricultural applications and veterinary care.
"Initial enhancements at Ricerca will include a revitalized leadership team, including key members of the Company's existing staff, and enhanced capital support to approach the marketplace with an aggressive and direct effort." stated Michael W. Martell, Ricerca, Executive Vice President.
About Ricerca Biosciences LLC
Founded in 1986, Ricerca significantly reduces the time for compound synthesis, development, registration and commercialization with their full range of services on a single, integrated 43-acre campus in Concord, Ohio. Specialties include agrochemical, chemical development and, drug safety and metabolism. Visit www.ricerca.com
About Main Market Partners, LLC
Headquartered in Akron, Ohio, Main Market Partners is a private equity and debt capital firm that operates with its sister company, Croley, Martell & Associates, Ltd., a leading middle-market operational management firm. Main Market Partners brings proven operating experience and sophisticated private capital application to middle market companies. Our value-oriented investment strategy focuses on acquiring or otherwise assisting companies within a broad range of industries.
Main Market Partners is currently seeking additional investments in the Biosciences Industry. Visit www.mainmarketpartners.com
For more information:
Clifford W. Croley
Chief Executive Officer
Ricerca Biosciences LLC
+1 (440) 357-3250
SOURCE Ricerca Biosciences