Certara announces close of Arsenal investment, appoints David Spaight to board

Certara announced that Arsenal, a private equity firm specializing in investing in and building transformational healthcare companies, closed its previously announced $449M new investment in Certara. David Spaight, an operating partner at Arsenal, has been appointed to Certara’s board of directors, effective immediately. Stephen McLean, a senior partner at Arsenal, will continue to serve on Certara’s board of directors. As previously announced, in a separate agreement with the company, Arsenal has agreed to a two-year lock-up prohibiting any sale of the newly purchased shares without company authorization, reflecting Arsenal’s commitment to being a long-term shareholder. Arsenal previously held a majority stake in the company through 2017 and has held a minority stake since Certara’s initial public offering in 2020. In connection with the sale of the remaining Certara shares held by funds controlled by EQT Private Equity, Eric Liu and Ethan Waxman have stepped down from the board of directors, effective immediately.