Blackstone Announces Strategic Investment in Life Science Logistics
16 Novembre 2021 - 07:00PM
Business Wire
Blackstone (NYSE: BX) announced today that funds managed by
Blackstone Tactical Opportunities (“Blackstone”) have entered into
a definitive agreement to make a significant, strategic investment
in Life Science Logistics (“LSL” or the “Company”), a leading,
national provider of healthcare supply chain solutions. The
investment is intended to help accelerate LSL’s continued expansion
within the fast-growing pharmaceutical and medical device market as
it opens new facilities and further increases its customer base in
the years ahead.
Ram Jagannath, Global Head of Healthcare at Blackstone, and Todd
Hirsch, a Senior Managing Director at Blackstone, said: “We are
excited to partner with Richard and his team as they embark on
their next stage of expansion – leveraging our firm’s global scale,
resources and operational expertise to better serve their
customers. LSL sits at the intersection of two of Blackstone’s
highest-conviction, firmwide investment themes – rapid advancement
of life sciences innovation and next-generation logistics. The
current environment has clearly demonstrated the critical need for
resilient, high-quality healthcare supply chain solutions – and we
look forward to helping accelerate the growth of a leader in this
sector.”
Founded in 2006 and headquartered in Dallas, Life Science
Logistics is a leading third-party healthcare logistics provider
with more than 600 employees and 4 million square feet of
warehousing and logistics space within 12 controlled-temperature
(20-25 degrees Celsius) and cold chain (2-8 degrees Celsius)
storage and distribution locations across nine states – from Dallas
to New York to Seattle and other major hubs. The company partners
with governments, global pharmaceutical and biotechnology companies
and medical device providers to deliver end-to-end supply chain
solutions and emergency preparedness infrastructure services across
the U.S.
Richard Beeny, Founder and CEO of LSL, said: “With unrelenting
demand for high-quality, flexible, FDA-compliant healthcare supply
chain solutions in recent years, LSL has seen exponential growth
from coast to coast. Now, with Blackstone’s investment and
partnership, we’re thrilled to see what the future will hold and to
bring their deep resources to bear for our customers.”
Terms of the transaction, which is subject to customary closing
conditions, were not disclosed. UBS Investment Bank served as
exclusive financial advisor and McDermott, Will & Emory served
as legal counsel to Life Science Logistics. Jefferies and Morgan
Stanley & Co. LLC served as financial advisors and Simpson
Thacher & Bartlett LLP and Sidley Austen LLP served as legal
advisors to Blackstone.
About Blackstone
Blackstone is the world’s largest alternative asset manager. We
seek to create positive economic impact and long-term value for our
investors, the companies we invest in, and the communities in which
we work. We do this by using extraordinary people and flexible
capital to help companies solve problems. Our $731 billion in
assets under management include investment vehicles focused on
private equity, real estate, public debt and equity, life sciences,
growth equity, opportunistic, non-investment grade credit, real
assets and secondary funds, all on a global basis. Further
information is available at www.blackstone.com. Follow Blackstone
on Twitter @Blackstone.
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version on businesswire.com: https://www.businesswire.com/news/home/20211116006212/en/
For Blackstone: Matt Anderson matthew.anderson@blackstone.com
(518) 248-7310
OR
Mariel Seidman-Gati mariel.seidmangati@blackstone.com (917)
698-1674
For Life Science Logistics Melissa Flynn
melissa@melissaflynnpr.com (843) 817-7653
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