New York-based private equity firm Arsenal Capital Partners has hired David Spaight as an operating partner in the firm’s healthcare group.
Spaight was most recently chairman and chief executive officer of WIL Research Company, a contract development and manufacturing organisation for biopharmaceutical and industrials companies he joined in 2010. In April this year WIL was acquired by Boston-based investor Charles River Associates for $585 million.
“Arsenal has an established track record of building world-class businesses that drive process improvements in key sectors of healthcare. In particular, we have made a number of investments in businesses that help improve the safety and productivity of pharmaceutical and biotechnology research and development. We are confident David will make a major contribution to this important mission,” said Stephen McLean, Arsenal partner and co-head of its healthcare group.
The hiring of Speight comes a week after the firm, which invests in healthcare and industrials companies, closed its fourth fund on its $1.3 billion hard-cap.
Prior to WIL Research Spaight held numerous senior executive positions at biopharmaceutical services and life sciences companies, such as New York Stock Exchange-listed ThermoFisher and PerkinElmer.
From a 14-strong portfolio, the firm currently holds five healthcare companies including BioIVT, a provider of biological and in vitro products which it acquired from Missouri private equity firm Thomson Street Capital Partners in January this year. Other healthcare investments include TractManager, a provider of compliance management solutions for hospitals, WCG, a clinical services organisation, and Certara, a drug development and data analytics technology services company.