UK - NVM reaps 2.2x money multiple on Pivotal exit
NVM Private Equity has sold laboratory supplier Pivotal Laboratories Ltd to ACM, a clinical laboratory in the US, for an undisclosed sum, reaping a 2.2x money multiple and an IRR of 27%.
Founded in 1999, Pivotal Laboratories provides analytical services to the pharmaceutical and biotech industries which offer testing on human subjects in various medical disciplines. Its customer base now spans more than 60 countries.
The buyer, ACM, has been working with Pivotal in a global marketing alliance since April 2005.
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