LongueVue Capital Partners Acquires Majority Stake in Summit Clinical Research to Accelerate SMO/IRO Growth

November 15, 2022

Overview

LongueVue Capital Partners has acquired a majority stake in Summit Clinical Research to accelerate SMO/IRO growth.

Significance

The Non-Alcoholic Steatohepatitis (NASH) clinical trial services market is experiencing double-digit annual growth expected due to the significant unmet clinical needs of this common chronic liver disease. As NASH clinical trial activity increases, demand for experienced, scaled site operators is growing rapidly due to the challenging nature of these trials and heightened competition for sites and patients.

Summit Clinical Research (Summit) is a leading integrated research organization (IRO) dedicated to complex indications, including NASH trials, supporting clinical trial sponsors, research physicians, and investigator sites in the field of hepatology research. Summit delivers a full spectrum of study oversight, enrollment, and site enrichment services, utilizing strategic partnerships and sites from within their network. The Company’s strong fundamentals, differentiated value proposition within complex trials, and strong clinical operator network made it an attractive platform investment for LongueVue Capital Partners (LVC), who targets growth-oriented companies with scalable, sustainable business models and exceptional leadership teams.

Crosstree’s Role

Crosstree helped LVC confirm that Summit was the ideal platform to be leveraged for additional growth through:

  • Developing well-defined platform investment theses within the SMO / IRO industry
  • Leveraging market expertise to identify the ideal platform opportunity
  • Facilitating introductions and moderating initial conversations with senior leadership
  • Conducting preliminary due diligence and advising on Summit’s valuation