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MJH Life Sciences™ Announces Long-Term Partnership with BDT Capital Partners
Partnership to Position MJH Life Sciences™ For Next Phase of Growth
BDT Capital Partners, LLC has agreed to acquire a majority interest in MJH Life Sciences™ through its affiliated funds. MJH Life Sciences™ will remain headquartered in Cranbury, New Jersey and will continue to be led by CEO Mike Hennessy Jr., who has led the Company since 2019. Under Hennessy's leadership, MJH Life Sciences™ has grown to over 50 brands, 1,100 events, eight million unique monthly visitors online as well as two million via print. The Hennessy Family, who founded the company, will continue to hold a significant minority ownership position.
November 16, 2021 12:00 PM Eastern Standard Time
CRANBURY, N.J.-- (BUSINESS WIRE)-- MJH Life Sciences™ ("the Company") is excited to announce today that BDT Capital Partners, LLC (“BDT”), affiliated with BDT & Company, LLC, a merchant bank that provides closely held businesses with long-term, differentiated capital, has agreed to acquire a majority interest in the Company through its affiliated funds.
Together, the MJH Life Sciences™ team and BDT will continue the strong growth trajectory of the Company, while staying true to the Company’s mission of providing healthcare professionals with the high-quality trusted information, resources, and education they need to make mission critical patient care decisions. BDT is thrilled to work alongside current CEO, Michael Hennessy Jr., as well as the tenured leadership team, to position the Company for long-term growth and success.
New Partnership Positions MJH Life Sciences™ for Long-term Growth
"MJH Life Sciences™ has experienced robust growth over its 20+ year history, fueled by the acceleration in biotech funding, a healthy pharma pipeline, and growth in new drug approvals. All these factors have supported strong demand for MJH Life Sciences™ to connect large pharma and biotech companies with healthcare professionals around the United States," said MJH Life Sciences™ CEO Mike Hennessy Jr. "In order to continue to enhance overall engagement between healthcare professionals and pharma, we've sought a long-term capital partner to continue to grow our audience reach, and ensure we will continue to provide best-in-class service to our clients well into the future. We have purposefully and diligently selected a partner in BDT who honors our values and competitive spirit, while also demonstrating the ability to support our vision and add meaningful strategic value."
"MJH Life Sciences™ is home to some of the world's most iconic healthcare content brands across oncology, primary care, specialty care, pharmacy, industry sciences, and more. We are incredibly excited to partner with the Hennessy family and Mike's experienced leadership team as they look to further expand the business in both existing and emerging categories," said Tiffany Hagge, Partner and COO of BDT Capital Partners' Investment Committee. "This investment is core to what we do, exemplifying BDT’s commitment to partner and invest alongside exceptional family businesses with strong cultures, talented employees, loyal customers, and in the case of MJH, providing a mission critical service to the healthcare community."
Bank of America Merrill Lynch acted as transaction advisor and Day Pitney acted as legal advisor to MJH Life Sciences™. Davis Polk & Wardwell acted as legal advisor to BDT Capital Partners. Bank of America Merrill Lynch and PNC Bank will provide the committed financing to support the transaction. Closing of the transaction is expected later this year and is subject to customary regulatory and other conditions. Additional terms were not disclosed.
About MJH Life Sciences™
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