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Advarra to be purchased in recapitalization deal

The Advarra office in Columbia. (Advarra photo)

The Advarra office in Columbia. (Advarra photo)

A pharmaceutical regulatory compliance services firm based in Columbia is being bought by a private equity firm in a recapitalization deal.

Genstar Capital of San Francisco has an agreement to buy Advarra Inc. from Linden Capital Partners of Chicago, Advarra announced Thursday. Linden plans to reinvest as a minority owner upon completion, Advarra said in a news release.

Pat Donnelly, CEO of Advarra, said in the news release that the company’s next phase of growth would boost its commitment to customers and employees, pursuit of research compliance excellence and innovation, and dedication to improve the way researchers safeguard participants.

The costs of the acquisition and of the minority investment were not disclosed.

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