Flourish Research Holdings, LLC Acquired Central Research Holdings

Background: Central Research Associates, Inc. (“CRA”), based in Birmingham, AL, is a leading, founder-owned, multi-specialty clinical research site, offering clinical trial opportunities to patients in Birmingham and the surrounding areas.
Cassel Salpeter:
- Served as financial advisor to CRA
- Successfully identified a strategic buyer interested in expanding its footprint in the Southeastern U.S.
- Was deeply involved in the process from buyer selection through closing
Challenges:
- Expedited marketing process to ensure the sellers timeline was met
- Maintained original deal timeline despite challenging market conditions
- Navigating extensive diligence process without interrupting the business
Outcome: In April 2023, CRA was acquired by Flourish Research Holdings, LLC (“Flourish Research”), a large clinical trial site network in the U.S.