GHO Capital and Ampersand Capital to acquire Avid Bioservices for $1.1bn.

GHO Capital, a private equity firm, and Ampersand Capital, a life sciences and healthcare-focused private equity firm, agreed to acquire Avid Bioservices, a biologics contract development and manufacturing organization, for $1.1bn. “Since our founding, Avid Bioservices’ business has grown by evolving to meet our customers' broad range of development and manufacturing needs. After years of investment and expansion, now is the right time to move forward as a private company with new owners that will support our next phase. In evaluating this transaction, our Board considered a range of alternatives and determined that it provides our stockholders significant, immediate and certain cash value for their shares. Partnering with GHO Capital and Ampersand Capital Partners allows us to build on our strong foundation by accessing their significant knowledge base, network and capital to position the business for the future with our customers," Nick Green, Avid Bioservices President and CEO.