BPOC one of the longest-tenured pure-play healthcare investors, today announced a strategic growth investment in Networking Packaging Group, LLC (“Network Partners”), a leading provider of consulting services to medical device and pharmaceutical companies.
Founded in 2015, Network Partners serves many of the world’s largest medical device and pharmaceutical companies, providing specialized expertise to help bring life-saving products to market. The company employs a team of over 250 inspired professionals across the United States, offering packaging engineering, labeling, regulatory affairs, quality assurance and project management consulting services.
“We are thrilled to partner with BPOC as we enter our next stage of growth,” said Tim Early, Co-Founder and CEO of Network Partners. “Network Partners has grown to become a recognized leader in the life sciences consulting market. Together, we believe this partnership will allow us to continue to expand our services and capabilities to better serve our customers.”
Network Partners has rapidly grown its client base in life sciences as demand for subject matter experts in niche areas continues to rise. The company was named to the Inc. 5000 list of Fastest Growing Private Companies in America in 2020 and 2021 and recently expanded its pharmaceutical and biotech offering with the acquisition of The FlexPro Group in March 2021. Building on Network Partners’ past success, BPOC’s investment will be used to accelerate growth by expanding into new verticals, adding new services and increasing geographic reach.
“As medical device and pharmaceutical markets become more complex, companies are increasingly looking to external resources to provide the expertise and specialized knowledge needed to navigate these complexities,” said Pete Magas, Partner at BPOC. “We have been extremely impressed with Network Partners’ team and the success they have achieved to date. We look forward to supporting the company’s growth strategies and long-term vision through this strong partnership,” he added.
Align5 served as financial advisor and Saul Ewing Ernstein & Lehr, LLP served as legal counsel to Network Partners in connection with the transaction. CMD Global Partners, LLC acted as financial advisor to BPOC, Paul Hastings, LLP served as legal counsel and Twin Brook Capital Partners provided debt financing.
The transaction is effective immediately and financial terms were not disclosed.