H.I.G. Capital sells Celerion Holdings to THL Partners
The clinical CRO specializes in early-stage trial solutions, from first-in-human to proof-of-concept studies, for pharmaceutical and biotechnology companies across North America, Europe, and Asia.
Celerion Holdings, a clinical contract research organization providing first-in-human to proof-of-concept studies and bioanalytical services, has been sold by H.I.G. Capital to THL Partners for $1.8 billion.
The company serves pharmaceutical and biotechnology clients across North America, Europe, and Asia.
The sale is the third exit from H.I.G.'s Advantage strategy since late 2025, following St. Croix and United Flow Technologies, with the three deals totaling more than $4.5 billion in enterprise value.
"We are proud of what we built with Celerion and have positioned it exceptionally well for its next chapter," said H.I.G. Co-Heads Matt Hankins and Rahul Vinnakota.
Get tomorrow morning's tape in your inbox.
Yesterday's platforms, add-ons, recaps, and exits, cleaned up before the workday starts.