hey guys ECR G here and today I'm gonna
talk to you guys about my thoughts on
par Excel being bought by Pamplona
capital that's a big venture capital
fund hey guys ECR G here and we're gonna
be talking about par Excel being bought
by Pamplona Capital Management so we
have known for some time now that parks
sell has been struggling for some reason
in the CRO space I have friends that
work at parks L I know people that work
at parks L colleagues everybody there
people that watch my channel here that
work at parks L and I've gotten a lot of
feedback on this that's why it's taken
me a long time to release this video but
par Excel has been hiring a lot of
people and then they've also been firing
a lot of people and letting them go
there are people at the company who
don't have any work to do so Park so has
to cut them and this is this is over
years that I have known people that have
worked there they have been worried
about their jobs as well so not
surprised here that parks L is offering
to be bought this is ultimately good for
the industry because hey you might have
seen a lot of consolidation you've had
the quintiles IMS merger you've had the
PI n c-- research and inventive health
merger and particularly for employees
I hate mergers from that point of view
for the employee point of view because
that keeps your wages low if there's
less competition if there's more
competition they're gonna pay more for
talent to get the better talent so
that's good for the employees
and if there's less competition than
your wages are gonna be lower because
there's no one who will there's less
people that are gonna up your wages or
provide more benefits for you but this
is a investment firm that Bakar Excel
not another CRO so I think they see
something in the CRO industry as a whole
that means more money for them so that's
good when investment firms want to
invest in the industry so I think as a
whole this is this is a good thing for
sure they typically they see something
in park sell that they could help manage
better that's what they do they they buy
in and then they run the business better
and ultimately take it to be even more
profitable than it was before so good
for par Excel employees on that front
your business will probably be run
better so here my notes I have that Park
so was bought for five billion dollars
at $88 a share so pretty pretty good so
if in order for Pamplona to find value
there they must have thought that they
got a good deal on the CRO and that this
industry is poised and very healthy for
the future so if you work in the CRO
space good this is good for you
especially because of the things outside
my earlier with a merger and
consolidation so I actually didn't know
this I new park saw had an office in the
raleigh-durham area
but I didn't realize Riley had the most
cro employees of anywhere in the world
I knew Riley was a big hot spot for CRO
but I didn't know it was the largest in
the world that's crazy
who knew little old Rolly dirt but I
also know because a lot of friends that
live in that area that all the CEOs
pretty much have an office in the
Triangle area so if you if you live
there that's definitely a good place to
be if you're in the CRO industry I'd
know I talked about that did some bit
videos before about some of the best
places to live if you're in the CRO
world Rohleder maybe I'll do another
video on that at some point but that's
pretty much it on the park sell merger I
mean on the park on on Park sell being
bought by Pamplona maybe we'll see some
other CRO
merge later in 2017 maybe early 2018 and
in the future because they grow to
expand their skill set I know that's one
of the main reasons why i NC decided to
merge with inventive health was to do
more advanced on the commercial side of
their business so we'll see what happens
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