BDO provided financial due diligence services to Avania in relation to its refinancing.
Avania is a leading, global full-service contract research organisation focused on the management of clinical studies for medical devices, IVDs, biologics and device-drug combination products internationally. Headquartered in the Netherlands, Kester Capital acquired the business in 2016 and has driven an increasingly global presence through organic and acquisitive growth. Since Kester’s initial investment the business has more than quadrupled its revenue. The deal sees Avania refinance its existing banking facilities with Crescent Capital which will enable Kester to position Avania well for its next phase of organic and acquisitive growth.
“BDO did a great job in supporting us in our successful refinancing. The collaborative approach worked very well with our team, resulting in a robust VFDD report which supported the refinance with a smooth completion. I look forward to working with the BDO team again in future.”
Edo Van Houten, Avania CFO