Private equity fund invests in scientific consulting firm

By Hank Schultz

- Last updated on GMT

©Getty Images - metamorworks
©Getty Images - metamorworks

Related tags M&A

A Philadelphia-based private equity firm has invested in ToxStrategies, a scientific consulting firm that counts dietary supplement companies among its client base.

Renovus Capital Partners announced that it is making a ‘majority investment’ in the company.  Renovus states that it generally works with ‘founder led companies.’  Details of the deal were not announced.

Broad client base

ToxStrategies, based in Katy, TX, serves companies in the dietary supplement, pharmaceutical, medical device and pet food industries.  In addition, the company consults with petrochemical and metals companies and works with trade associations, and federal, state and local government agencies.

"We have been able to effectively navigate the rapid growth of the scientific consulting industry despite the increasingly complicated regulatory environment,"​ said Mark Harris, co-founder of ToxStrategies. "With Renovus' investment, we believe ToxStrategies is positioned to make substantial new advances and be the market leader."

ToxStrategies has more than 30 PhDs on staff and participates in ongoing research. Among the studies published by staff members in 2022 are papers on cannabidiol safety, a book chapter on New Dietary Ingredient and GRAS regulatory considerations and blood glucose management supplements in a diabetes cohort, the last in partnership with Nestlé Health Science.

"We were extremely impressed by the breadth and depth of the ToxStrategies team, which has unique capabilities to address myriad of complex scientific, technical, and regulatory challenges confronting their clients," ​said Jesse Serventi, Founding Partner at Renovus.

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