- MLM quadrupled its revenue and EBITDA during GPP’s ownership
- GPP added two tuck-in acquisitions in the US and South Africa, expanding MLM’s footprint beyond its single German site
- William Blair advised MLM on the sale, with McDermott Will & Schulte as legal counsel
Great Point Partners has sold its GPP III portfolio company MLM Medical Labs to Labcorp. MLM provides global central and specialty lab services supporting clinical trials, biomarker testing, and drug development for life sciences and biopharma customers.
Headquartered in Mönchengladbach, Germany, MLM has more than 30 years of experience and supports more than 300 clinical trials at any given time, offering central lab testing, biomarker testing, assay development, kit building, and long-term sample management and storage. The company also operates laboratories in Memphis, Tennessee, and Pretoria, South Africa.
“When we invested, we saw a science-led business with exceptional global commercial potential,” said Rohan Saikia, managing director at GPP, in a statement. “Drawing on our network, we hired Scott Houlton as CEO, strengthened the finance and commercial teams, and built a world-class board. With our sourcing team, we completed two strategic acquisitions in the United States and South Africa, giving the company a truly global footprint and accelerating revenue growth.”
“Under our ownership, MLM quadrupled its revenue and EBITDA, expanded its geographic footprint from a single site in Germany to additional locations in the United States and South Africa, and strengthened its offerings to customers, all while preserving the culture and high-quality service instilled by MLM’s original scientific leaders,” said Bret Tenenhaus, principal at GPP.
William Blair served as financial adviser to MLM, and McDermott Will & Schulte served as MLM’s legal counsel.
Founded in 2003 and based in Greenwich, Connecticut, GPP is a healthcare-focused investment firm with 30 professionals, investing across the US, Canada and Europe. It manages approximately $1.7 billion of capital across its private funds and public life sciences equity strategy, and has provided growth equity, growth recapitalization and management buyout financing to more than 100 health care companies.
Editor’s note: This news brief was produced with the assistance of artificial intelligence.