Audax Private Equity completed the acquisition of the clinical services business of Avantor for $650m.

Audax Private Equity, a private equity firm, completed the acquisition of the clinical services business of Avantor, a provider of mission-critical products and services to customers in the life sciences and advanced technologies industries, for $650m. "This transaction not only strengthens our balance sheet and reduces interest expense, but also enables us to sharpen our focus on strategic growth opportunities in our lab and production businesses. We extend our gratitude to the associates transferring with the business for their invaluable contributions and wish them continued success as they embark on this new chapter under Audax's ownership," Michael Stubblefield, Avantor President and CEO.