The Company provides Randomization and Trial Supply Management Software , also known as Interactive Response Technology software, to the global pharmaceutical clinical trials industry.
The two owners of the Company were at different stations in life, with one owner desiring a near-term transition out of the business and the other focused on driving continued future growth. Trestle was engaged to find a strategic partner who could provide a transaction that accomplished the goals of both business owners.
Trestle performed a targeted marketing process that focused on strategic acquirors in the CRO and Pharma services industries as well as private equity groups that had either a stated interest or a platform company in the space. The Company was sold to a publicly traded corporation in a transaction that included both cash and stock consideration. The transaction accomplished the goals of both owners, with one owner effecting a quick transition out of the business and the other owner remaining to grow the Company more aggressively within a larger corporate infrastructure.