STAMFORD, Conn., Oct. 12, 2021 /PRNewswire/ -- The Lockwood Group ("Lockwood"), an industry leader in scientific-based medical communications for the pharmaceutical, biotech, and medical device industries, announced today a strategic investment made by a fund managed by the Private Equity Group of Ares Management Corporation (NYSE: ARES) ("Ares"). Terms of the investment were undisclosed.
"We are excited to find in Ares a partner that appreciates our differentiated culture, deep scientific expertise, and close-knit community of teammates," said Matthew Schecter, President and Chief Executive Officer of Lockwood. "Ares brings a wealth of resources and experience that we believe will help Lockwood accelerate growth by investing in our people, customers, and capabilities. Our team is energized by the opportunity ahead of us."
Lockwood's executive management team, led by Schecter and Chief Operating Officer, Christine Hinkle, will continue to guide the company with an emphasis on growth, capability expansion, and providing leading scientific thinking to our life science clients. As a 5-time Inc. Magazine 5000 Fastest-Growing Private Company in America and a 7-time Best Places to Work in Connecticut winner, Lockwood will maintain its commitment to delivering exceptional client service, the highest-caliber scientific expertise, and a supportive team culture.
"As an industry leader in helping pharmaceutical and biotech customers bring innovative treatment options to market, with the ultimate goal of serving patients, we believe Lockwood is well-positioned to benefit from a number of secular tailwinds," said Kevin Ryan, Partner in the Ares Private Equity Group. "We are thrilled to support Matt, Christine and the entire Lockwood leadership team as they seek to execute against the Company's numerous organic and inorganic growth opportunities."
Houlihan Lokey served as the exclusive financial advisor to The Lockwood Group.
About The Lockwood Group
Founded in 2007 and headquartered in Stamford, Connecticut, Lockwood communicates clinical and therapeutic advances to every type of medical expert, healthcare practitioner, and decision maker. For the ultimate benefit of patients, Lockwood helps clients advance their objectives in a world of new regulations, business models, payment approaches, technologies, roles, and work practices. Lockwood teams are organized around the specific needs of each client. With extensive experience in oncology, rare diseases, and all major therapeutic areas, along with highly specialized knowledge in biologics, devices, and diagnostics, Lockwood can quickly deploy the right scientific, business, and communications experts to address the challenges at hand.
About Ares Management Corporation
Ares Management Corporation (NYSE: ARES) is a leading global alternative investment manager offering clients complementary primary and secondary investment solutions across the credit, private equity, real estate, and infrastructure asset classes. We seek to provide flexible capital to support businesses and create value for our stakeholders and within our communities. By collaborating across our investment groups, we aim to generate consistent and attractive investment returns throughout market cycles. As of June 30, 2021, including the acquisition of Black Creek Group, which closed July 1, 2021, Ares Management Corporation's global platform had approximately $262 billion of assets under management, with approximately 2000 employees operating across North America, Europe, Asia Pacific, and the Middle East. For more information, please visit www.aresmgmt.com. Follow Ares on Twitter @Ares_Management.
SOURCE The Lockwood Group