KKR, the private equity firm that acquired Raleigh-based pharmaceutical services company PRA International last month, has bought another company in the sector.
KKR announced Wednesday that it had reached an agreement to acquire ReSearch Pharmaceutical Services from Warburg Pincus, another private equity firm. Terms of the deal weren’t disclosed.
KKR plans to merge PRA with RPS, which is based in Fort Washington, Penn. and employs 4,000 people in 64 countries.
Colin Shannon, PRA’s CEO, will lead the combined company, and RPS will continue to operate independently as a new Strategic Solutions Division within PRA.