
3i makes £73m from sale of US-based Quintiles Transnational
3i has made £73m from the sale of its remaining shares in US-based outsourced biopharma services business Quintiles Transnational, bringing its investment to full realisation.
The share sale brings the total return on investment for 3i to 3.3x money and £334m, over an eight-year period, including dividend payments and share sales.
The British GP first backed Quintiles in January 2008, investing alongside Bain Capital, TPG, Temasek and founder Dennis Gillings in the North Carolinian company's recapitalisation.
3i claims Quintiles' EBITDA has grown more than 250% under the four private equity firms' tenure and has doubled its revenue.
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