Ill.-based company to acquire Madison County-based life sciences consulting firm
The Planet Group to buy NDA Partners
Western Springs, Illinois-based consulting company The Planet Group, a MidOcean Partners portfolio company, announced Thursday it has entered into an agreement to acquire Rochelle-based life sciences management consulting firm NDA Partners.
Financial terms of the acquisition were not disclosed. This marks The Planet Group’s fourth acquisition.
Founded in 2003, NDA Partners provides consulting services for medical product development and regulatory review. The company will continue to be led by CEO Earle Martin, one of the company’s founding partners.
“We are exceptionally pleased to partner with The Planet Group, which will further enable our vision of dramatically improving the success rate and development speed of biopharmaceutical discoveries within the context of the economic realities faced by our clients,” NDA Partners Chairman Carl Peck said in a statement.
The Planet Group provides consulting and professional staffing services. Middle-market private equity firm MidOcean Partners made a majority investment in the company in January 2018.
“This is a really exciting deal for Planet as we continue to follow our expansion strategy,” The Planet Group CEO Michael Stomberg said in a statement. “The landscape of life sciences — and the biopharmaceutical industry in particular — has never been more complicated or important. Many of our clients are poised for explosive growth and it takes insider knowledge to provide the level of service they rely on. The NDA Partners acquisition will help us better serve the industry.”