- Dr Milen Vrabevski, Comac’s founder and CEO, as well as other shareholders will retain a significant minority stake
- EdgeCap is a London and Tallinn, Estonia-based private equity and growth capital firm
- The firm seeks to deploy between €10-100 million per investment
EdgeCap Partners has acquired a majority equity interest in Comac Medical, a full-service clinical research organisation (CRO) in Southern Eastern Europe.
No financial details of the transaction were disclosed.
Comac is headquartered in Sofia, Bulgaria. It provides a range of early to late-phase drug development services to the global pharmaceutical and biotech industries across a variety of therapeutic areas.
Dr Milen Vrabevski, Comac’s founder and CEO, as well as other shareholders will retain a significant minority stake and will continue in their current roles as executive managers.
“We look forward to working alongside Milen and his team to accelerate the company’s growth organically and to drive consolidation in the CRO space via a targeted buy-and-build strategy,” said Kristjan Piilmann, EdgeCap’s co-founder.
Kristjan Piilmann, Chris Backes, founders, and Dr Günter Schmid, senior operating partner for EdgeCap, will join Comac’s board of directors.
The transaction was completed in June 2023.
EdgeCap is a London and Tallinn, Estonia-based private equity and growth capital firm focused on investing in European mid-market companies. The firm seeks to deploy between €10-100 million per investment.
Wolf Theiss provided legal counsel, Deloitte conducted financial and tax due diligence, and Health Advances conducted commercial due diligence for EdgeCap.
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