Acquisition Enables Growth, Expands Consulting Expertise for The Planet Group
Chicago, IL – (November 3, 2020) – Planet Technology’s parent company, The Planet Group (“Planet”), a leading provider of outsourced human capital and consulting solutions and a portfolio company of MidOcean Partners, announced today that it has entered into an agreement to acquire NDA Partners, a global life sciences management consulting and contract development organization focused on providing innovative product development and regulatory services to the pharmaceutical, biotechnology and medical device industries.
Headquartered outside of Washington, DC, NDA Partners was founded in 2003 by 10 former FDA officials and pharmaceutical industry executives who have pioneered some of the most innovative modern approaches to medical product development and regulatory review. The company’s core services focus on efficient product development and regulatory strategy; specifically in the areas of analysis, assessment, advice and actionable recommendations from their extensive network of senior-level expert consultants.
Carl Peck, Chairman of NDA Partners since its inception remarked, “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 will continue to be led by current CEO Earle Martin, a founding partner of the company and a pharmaceutical industry veteran and recognized leader. Martin added, “We’ve accomplished a tremendous amount during our 17-year history and the impact our consultants have had on our clients’ growth is unparalleled. We’re excited about our next chapter and continued success as part of The Planet Group.”
“This is a really exciting deal for Planet as we continue to follow our expansion strategy,” said Michael Stomberg, CEO of The Planet Group. “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.”
This is the fourth acquisition in as many years for The Planet Group, further strengthening its rapidly growing position in the industry as a provider of choice offering a comprehensive suite of strategic consulting services and professional staffing.
MidOcean Partners, a premier middle market private equity firm, made a majority investment in Planet in January 2018 to escalate the company’s strategic initiatives and drive continued growth. Planet will look to continue accelerating its expansion through future M&A activity.
NDA Partners is a life sciences management consulting and contract development organization (CDO) focused on providing product development and regulatory services to the pharmaceutical, biotechnology and medical device industries worldwide. The highly experienced Principals and Expert Consultants in NDA Partners include three former FDA Center Directors; the former Chief Executive Officer and Chief Science Officer at the United States Pharmacopeial Convention (USP); an international team of more than 100 former pharmaceutical industry and regulatory agency senior executives; and an extensive roster of highly proficient experts in related areas. Services include efficient product development and regulatory strategy, expert consulting, high-impact project teams and contract management of client product development programs. Learn more at https://ndapartners.com.
The Planet Group consists of eight related entities, including two global consulting organizations and six renowned staffing brands, and has been purposefully built to address the professional services needs of leading companies in the Accounting & Finance, Technology, Life Sciences, Human Resources, Diversified Energy & Engineering, Healthcare and Digital Marketing areas. The company was founded in 2009 and is headquartered in Chicago, Illinois with offices throughout the US and Europe.
MidOcean Partners is a premier New York-based alternative asset manager that specializes in middle market private equity and alternative credit investments. Since its inception in 2003, MidOcean Private Equity has managed approximately $4.8 billion of committed capital and has targeted investments in high-quality middle market companies in the consumer and business services sectors. MidOcean Credit Partners was launched in 2009 and currently manages approximately $8.0 billion across a series of alternative credit strategies, collateralized loan obligations and customized separately managed accounts as of September 30, 2020.
The Planet Group
Elizabeth Spayne, VP of Marketing
781.530.3191 | espayne@theplanetgroup.com
NDA Partners
Earle Martin, Chief Executive Officer
540.738.2550 | MartinEarle@ndapartners.com
MidOcean Investor Relations
Allison Donohue
investorrelations@midoceanpartners.com
