Benzinga | Oct 12, 2021 04:23PM EDT

The Lockwood Group Reports Strategic Investment Made By Fund Managed By Private Equity Group Of Ares Mgmt., No Terms Disclosed

The Lockwood Group ("Lockwood"), an industry leader in scientific-based medical communications for the pharmaceutical, biotech, and medical device industries, announced today a strategic investment made by a fund managed by the Private Equity Group of Ares Management Corporation (NYSE:ARES) ("Ares"). Terms of the investment were undisclosed.

"We are excited to find in Ares a partner that appreciates our differentiated culture, deep scientific expertise, and close-knit community of teammates," said Matthew Schecter, President and Chief Executive Officer of Lockwood. "Ares brings a wealth of resources and experience that we believe will help Lockwood accelerate growth by investing in our people, customers, and capabilities. Our team is energized by the opportunity ahead of us."

Lockwood's executive management team, led by Schecter and Chief Operating Officer, Christine Hinkle, will continue to guide the company with an emphasis on growth, capability expansion, and providing leading scientific thinking to our life science clients. As a 5-time Inc. Magazine 5000 Fastest-Growing Private Company in America and a 7-time Best Places to Work in Connecticut winner, Lockwood will maintain its commitment to delivering exceptional client service, the highest-caliber scientific expertise, and a supportive team culture.

"As an industry leader in helping pharmaceutical and biotech customers bring innovative treatment options to market, with the ultimate goal of serving patients, we believe Lockwood is well-positioned to benefit from a number of secular tailwinds," said Kevin Ryan, Partner in the Ares Private Equity Group. "We are thrilled to support Matt, Christine and the entire Lockwood leadership team as they seek to execute against the Company's numerous organic and inorganic growth opportunities."

Houlihan Lokey served as the exclusive financial advisor to The Lockwood Group.