The Netherlands: Astorg takes majority stake in Avania from Kester

Paris-based PE firm, Astorg, has acquired a majority stake in Avania, a Netherlands-based full-service global MedTech contract research organization (CRO), from UK-based Kester Capital. Financial terms were not disclosed but Kester says that the sale of Avania will deliver a return of over 8x. Avania was formed in March 2020 from the combination of five complementary…