UK-based Quotient Bioscience, which has acquired four businesses since it was founded last year, will use the funding to fuel further acquisitive and organic growth in Europe and North America.

Jonathan Goldstein and Mark Carter, respectively managing director and senior vice president at TA Associates, will join Quotient’s board. The company will continue to be led by CEO Paul Cowan, who retains an equity stake along with property and investment firms Helical Bar and Dencora Group.

Quotient was advised on the deal by accountancy firm Ernst & Young and London solicitor Mishcon de Reya, while Ulster Bank continues to provide senior debt to the company.

The group’s businesses specialise in areas such as drug surveillance in sport (through HFL Sport Science), analysis of blood types (through Alba Bioscience) and drug development (through Quotient Bioresearch).

TA Associates was founded in 1968 and has $12 billion (£6.8 billion) under management.