Bracket, the Wayne-based technology firm that supports pharmaceutical clinical trials, was acquired earlier this month by private equity firm Parthenon Capital Partners, according to a release. Parthenon, which has offices in Boston and San Francisco, bought Bracket for an undisclosed sum from previous owner Express Scripts Holding Company.
Bracket is run by Catherine Spear.
The acquisition comes with no layoffs or relocations for its employees, a spokeswoman said, including Bracket’s more than 300 employees in its Wayne and Langhorne offices. The company, acquired by Express Scripts in April 2012, has 600 employees across the country.
Keeping value in the region may come in contrast with the image many private equity firms get, so keep an eye out for whether this bolsters Bracket, by way of outside perspective, or if the company is used for a cash spin out.
For more on Bracket, read our Q&A with vice president of client services Adam Butler.
Before you go...
Please consider supporting Technical.ly to keep our independent journalism strong. Unlike most business-focused media outlets, we don’t have a paywall. Instead, we count on your personal and organizational support.
3 ways to support our work:- Contribute to the Journalism Fund. Charitable giving ensures our information remains free and accessible for residents to discover workforce programs and entrepreneurship pathways. This includes philanthropic grants and individual tax-deductible donations from readers like you.
- Use our Preferred Partners. Our directory of vetted providers offers high-quality recommendations for services our readers need, and each referral supports our journalism.
- Use our services. If you need entrepreneurs and tech leaders to buy your services, are seeking technologists to hire or want more professionals to know about your ecosystem, Technical.ly has the biggest and most engaged audience in the mid-Atlantic. We help companies tell their stories and answer big questions to meet and serve our community.
Join our growing Slack community
Join 5,000 tech professionals and entrepreneurs in our community Slack today!
