Successful Sale of Life Sciences Consulting Firm Supporting Drug Development Lifecycle

Carl Marks Securities ran a sell-side process incorporating potential strategic and financial buyers who had experience in the life sciences consulting industry and were interested in Hawkins Point’s leading market position and growth trajectory.

Heather and Steve were highly committed to finding the right buyer for their employees. Throughout the sale process, we repeatedly heard the owners talk about the firm’s strong culture by saying Hawkins Point hired, “Kind hearted people that are great at what they do.” At the time of its sale, Hawkins Point employed over 100 business and technology professionals in a salary-based model. Hawkins Point had strong brand equity with premier talent acquisition capabilities to attract and retain top Senior Management Consultants with Life Sciences expertise.

*Carl Marks was able to find a sponsor-backed strategic partner who simultaneously gave our client the financial exit they had hoped for while providing a growth platform and common culture for their employees.

After a competitive bidding process, Hawkins Point decided to partner with Verista and its financial sponsor, Lightview Capital. Hawkins Point was a natural extension to Verista’s scope of services and capabilities in compliance, automation and validation solutions. Hawkins Point also broadened Verista’s geographic footprint into New England. Under Verista’s umbrella, Hawkins Point’s committed relationships with an increasing number of large strategic clients ensured that the combined companies will continue delivering exceptional results.

The entire sale process was fully remote. From the pitch, to marketing material development, to buyer outreach, to due diligence, to deal closing, took place virtually. With video conferencing, our team at Carl Marks had more face time with Heather, Steve, and the Hawkins Point team than we might have had otherwise.

During Covid, financial sponsors have been increasingly interested in acquiring add-ons for existing portfolio companies. Sponsors have already made substantial investments in their existing portfolio companies and are most familiar with the nuances of these respective industries, which offsets risks and uncertainty.