H.I.G. Capital Exits Celerion for $1.8B, Capping $4.5B in Recent Advantage Strategy Exits
Event summary
- H.I.G. Capital sold Celerion to THL Partners for $1.8 billion on June 15, 2026.
- The exit follows the sales of St. Croix and United Flow Technologies, totaling $4.5 billion in exits since Q4 2025.
- Celerion is a global clinical pharmacology-focused Contract Research Organization (CRO).
- H.I.G. Advantage strategy targets established, high-quality North American companies.
The big picture
H.I.G. Capital's successful exit of Celerion underscores its ability to identify and scale specialized businesses, even in a challenging exit environment. The $4.5 billion in exits since Q4 2025 highlights the firm's disciplined approach to value creation and its strategic focus on high-quality, industry-leading companies. This transaction reflects broader trends in private equity, where firms are increasingly targeting niche, high-growth sectors within healthcare and biotechnology.
What we're watching
- Exit Momentum
- Whether H.I.G. can sustain this pace of high-value exits amid broader market challenges.
- Portfolio Strategy
- How H.I.G. will deploy the returned capital from these exits to fuel future investments.
- Industry Consolidation
- The pace at which private equity firms consolidate the clinical research organization sector.
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