Citizens Financial : Advises Soliant Health on its Divestiture of BioBridges to PharmAlliance

10/10/2023

Citizens Advises Soliant Health on its Divestiture of BioBridges to PharmAlliance

PROVIDENCE, RI - Citizens M&A Advisory announced today that it served as the exclusive financial advisor to Soliant Holdings, LLC, a portfolio company of Olympus Partners, on its divestiture of BioBridges, LLC to PharmAlliance Holdings, LLC, a new platform company formed by Waud Capital Partners.

BioBridges is a leading drug development consulting business serving emerging and mid-sized pharmaceutical sponsors and biotechnology companies.

BioBridges was a subsidiary of Soliant Health, a leading national provider of healthcare jobs and staffing services and portfolio company of Olympus Partners, a private equity firm focused on providing equity capital for middle-market management buyouts and companies needing capital for expansion.

PharmAlliance is pursuing a growth strategy in the pharmaceutical and life sciences services market to solve a variety of discovery, development and commercialization needs across the drug life cycle through a diverse set of solutions. The acquisition of BioBridges represents PharmAlliance's first investment. Waud Capital is a leading growth-oriented private equity firm seeking to partner with experienced management teams to build market-leading companies.

Olympus Partner Jason Miller said: "Citizens delivered an exceptional outcome for Olympus, Soliant and BioBridges in an evolving market. They demonstrated a thorough understanding of the business and were highly knowledgeable of the industry landscape. We greatly appreciate the efforts made by Alan Bugler, Dave Phillips and the entire Citizens team."

Citizens M&A Advisory specializes in middle-market mergers and acquisitions. Citizens combines sector intelligence with a client-focused approach to realize our clients' true value. The Citizens team has more than 100 M&A professionals specializing in a range of industries across the United States. Citizens M&A Advisory is part of Citizens JMP Securities, LLC., a subsidiary of Citizens Financial Group (NYSE: CFG).

About Citizens Financial Group, Inc.
Citizens Financial Group, Inc. is one of the nation's oldest and largest financial institutions, with $223.1 billion in assets as of June 30, 2023. Headquartered in Providence, Rhode Island, Citizens offers a broad range of retail and commercial banking products and services to individuals, small businesses, middle-market companies, large corporations and institutions. Citizens helps its customers reach their potential by listening to them and by understanding their needs in order to offer tailored advice, ideas and solutions. In Consumer Banking, Citizens provides an integrated experience that includes mobile and online banking, a full-service customer contact center and the convenience of approximately 3,400 ATMs and approximately 1,100 branches in 14 states and the District of Columbia. Consumer Banking products and services include a full range of banking, lending, savings, wealth management and small business offerings. In Commercial Banking, Citizens offers a broad complement of financial products and solutions, including lending and leasing, deposit and treasury management services, foreign exchange, interest rate and commodity risk management solutions, as well as loan syndication, corporate finance, merger and acquisition, and debt and equity capital markets capabilities. More information is available at www.citizensbank.com or visit us on Twitter, LinkedIn or Facebook.

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