Boston, October 29, 2020 – Riverside Partners, LLC, a Boston-based private equity firm, announced today the completion of an investment in Syner-G Pharma Consulting, LLC (“Syner-G” or the “Company”) in partnership with the Company’s founders. Syner-G provides the full spectrum of Chemistry, Manufacturing, and Controls (“CMC”) technical, regulatory and compliance consulting services to pharmaceutical and biotechnology clients.
Headquartered in Southborough, Mass., the Company utilizes customized science and risk-based approaches to support the development of lifesaving and breakthrough therapeutics. Furthermore, Syner-G has a proven track record of success, having supported the development and filings leading to approval of numerous INDs, IMPDs, NDAs, MAAs, post approval submissions and other global submissions. With offices in North America and India, Syner-G’s global team supports the CMC technical, regulatory and compliance needs of customers worldwide.
“Syner-G is an exceptional company, and we are thrilled to partner with Prabu Nambiar and Binesh Prabhakar for the Company’s next chapter,” said Craig Stern, a General Partner at Riverside Partners. “We are extremely excited to work alongside the entire management team to support the Company’s next stage of growth.”
“The entire Syner-G team have built an impressive platform for growth that provides unparalleled service to its customers throughout the clinical development process for new pharmaceuticals,” added David Belluck, General Partner at Riverside Partners. “We were attracted to the Company due to its strong customer relationships, best-in-class service offerings, and extremely dedicated group of employees. Among the many investments we consider, Syner-G differentiated itself as a founder-led company with an excellent reputation, outstanding capabilities, and experienced management. Riverside is looking forward to utilizing our deep healthcare and operational experience to help accelerate the Company’s growth.”
“We founded Syner-G with the goal of providing the highest quality science and risk-based CMC technical, regulatory and compliance consulting services and strategic advice to our customers,” said Prabu Nambiar, Founder and CEO of Syner-G. “When we decided to bring on a financial partner for Syner-G, we sought an investment firm with significant pharmaceutical services expertise, deep experience working with founder-owned companies, and a strong cultural fit with our Company. The partnership with Riverside will ensure that we can continue to deliver on this vision and enable us to continue to uphold our mission and support our customers.”
Binesh Prabhakar, Founder and Senior Vice President of Quality Assurance & Compliance of Syner-G, added, “In partnership with Riverside, we will continue to focus on meeting the needs of our customers and believe this investment not only allows us to better serve our existing clients but expands our ability to reach new customers and potentially offer other unmet services. The Riverside team has a great understanding of how to scale a pharma services business and the two organizations have a very strong cultural fit. The Syner-G team is very excited to partner with Riverside and we look forward to working together.”
Choate, Hall & Stewart LLP provided legal counsel to Riverside. Network Blue, Inc. acted as exclusive financial advisor to Syner-G. Terms of the transaction were not disclosed.
Syner-G is a leading provider of customized science and risk-based CMC technical, regulatory and compliance solutions and services, supporting pharmaceutical and biotechnology companies across small molecule, large molecule, and cell and gene therapy products. With its high customer retention, Syner-G oversees all aspects of CMC technical, regulatory and compliance services throughout the drug development process and post-commercialization. For more information, visit www.synergpharma.com.
As pharma and biotech companies increasingly rely on outsourcing, Syner–G is well positioned to build on its demonstrated history, blue chip customer base, and stellar reputation as a leading provider of CMC technical, regulatory and compliance consulting services.
Craig Stern
General Partner
About Syner-G
About Riverside Partners
Founded in 1989, Riverside Partners is a middle market private equity firm with total capital commitments of $1.6 billion raised since inception. The firm focuses on growth-oriented companies in the healthcare and technology industries. Riverside Partners is particularly experienced at partnering with founders, owners and management teams and it brings substantial domain expertise and operating experience to its portfolio companies. For more information, visit www.riversidepartners.com.
Riverside Partners Contact:
Andy Merrill or Nick Rust
Prosek Partners
(646) 818-9252
amerrill@prosek.com / nrust@prosek.com