Two leading animal health consulting firms have ended merger talks.
Switzerland-based Stonehaven Consulting and Dallas-based Brakke Consulting each reported Feb. 23 that the transaction had been called off five weeks after it was first announced.
“During the due diligence process it was determined that capturing the operational and financial synergies in this transcontinental merger proved more challenging than first anticipated,” Brakke stated.
President Ron Brakke, who founded the company in 1986, said he was “disappointed that Stonehaven decided not to follow through with the merger, [but] we remain excited about our continued growth prospects at Brakke Consulting.”
“We want to assure our clients and the industry that we will continue to be devoted to supplying quality consulting services in the future as we have for the past 32 years,” Ron Brakke said.
A brief statement from Stonehaven partner Brian Kopp stated that the company will “continue with plans to expand its business in the global arena.”
“We are already working with a number of life science companies in the U.S. and are currently reviewing alternative growth opportunities,” Kopp said.