Gryphon Investors Investors Recapitalizes Synteract and Vince & Associates
9/4/2008 8:42:12 AM
SAN FRANCISCO--(BUSINESS WIRE)--Gryphon Investors announced today that it led the simultaneous recapitalization of Synteract, Inc. (“Synteract”) and Vince & Associates Clinical Research (“VNA”) in partnership with management and Celerity Partners. Both Synteract and VNA provide outsourced pharmaceutical services to biotechnology and pharmaceutical companies. The management of Synteract and VNA will remain in place and become meaningful shareholders of Synteract Corporation, the newly-formed holding company that will now own both businesses. Celerity Partners, which previously invested in Synteract in June 2006 and VNA in November 2007, will remain a shareholder through Synteract Corporation. Terms of the transaction were not disclosed.
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