MORRISVILLE – The consortium of private equity firms set to acquire Triangle-based Syneos Health in a deal valued at more than $7 billion is seeking to raise $1.7 billion from investors to help finance the deal.
In a press release in which the buyers were called Start Parent, Inc., the notes being offered will come due in 2030.
“The Issuer [Star Parent] intends to use the proceeds from the offering together with other financing sources to fund the previously announced acquisition of Syneos Health by the Issuer and certain of its affiliated entities (such affiliates, together with the Issuer, the “Purchasing Entities” and related refinancings,” according to the announcement.
“The Purchasing Entities were newly-formed entities established by a consortium of private investment funds led by Elliott Investment Management L.P. and its affiliates, Patient Square Capital, LP and its affiliates and Veritas Capital Fund Management, L.L.C. and its affiliates.”
The Syneos deal was announced in May.
Morrisville based life science company Syneos to be acquired in $7.1B deal
