Tag Archives: Pharmacie

Bain Capital Private Equity to acquire FIS

BainCapital

LONDON and MONTECCHIO MAGGIORE, Italy – 7th July 2023 – Bain Capital Private Equity (“Bain Capital”), a leading global private investment firm, and Nine Trees Group S.p.A. (“NTG”)¸ the holding company of the Ferrari Family, announce that they have reached binding agreements (subject to customary conditions precedent) for the acquisition by Bain Capital of the entire NTG’s shareholding in FIS – Fabbrica Italiana Sintetici S.p.A. (“FIS” or the “Company”), a leading developer and manufacturer of small molecule active pharmaceutical ingredients (APIs) and intermediates.

 

Founded in 1957 by the Ferrari Family in Montecchio Maggiore, FIS has a long history of pharmaceutical technical innovation and is recognised globally for its differentiated capabilities and deep technical expertise. Over the years FIS has become the development and manufacturing partner of choice for top blue-chip pharmaceutical companies around the world for custom and generic API synthesis. In 2022, the Company generated sales of approximately €700M in 70 countries and more than 300 customers around the globe, with a network of three world-class manufacturing facilities based in Italy, employing more than 2,000 people, including 250 R&D scientists, and having in its portfolio 25 of the 200 best-selling small molecules in the world.

 

“In over 60 years of history, the Ferrari Family has created, developed and continuously supported FIS – Fabbrica Italiana Sintetici, leading it to become the leader of the small molecule and active pharmaceutical ingredients sector in Italy, and one of the best-in-class developers and manufacturers in Europe and Globally. Today FIS is ideally positioned to further grow and expand internationally to become one of the world leaders in the APIs / small molecule industry. The Ferrari Family has found in Bain Capital an ideal partner who can drive the future growth of the business into the next phase, considering its significant industrial experience and operational resources. We are thankful to the FIS Management team led by Michele Gavino (CEO) and Manuel Barreca (CFO) and to all FIS employees and stakeholders for the successful path carried on together so far. We would also like to thank all the people that have contributed to this successful transaction” said Giampaolo Ferrari, Alessandro Ferrari and Andrea Cappellato Ferrari, respectively Chairman and Managing Directors of NTG and FIS.

 

“FIS Management Team is very proud of the results achieved by the Company in recent years and the work that we are doing together with our customers and partners in developing cutting-edge technologies and continuing to create sustainable and responsible innovation in the APIs and small-molecule sector. We thank the Ferrari Family for all the continued support provided to the Company and we are looking forward to be working with Bain Capital and drive FIS to further grow and become the global industry leader in the APIs / small molecule industry”, said Michele Gavino, CEO of FIS and Manuel Barreca, CFO of FIS.

 

“Our investment in FIS marks a strategically important transaction for Bain Capital Private Equity in Europe, consistent with our thematic investment approach to the pharmaceutical industry. We were impressed by FIS’ deep expertise in complex chemistry, differentiated development capabilities, and strong relationships with Pharma and Biotech customers. We have high conviction in the industry’s growth prospects and are excited to support the development and manufacture of innovative and life-saving therapies for patients worldwide,” said Christina Dix and Benjamin Kunstler, Partners and Co-Heads of European Healthcare at Bain Capital Private Equity.

 

“The acquisition of FIS is perfectly aligned with our long track record of successful partnerships with family-owned business and further builds on our successful Italian franchise. We are honoured to partner with the Ferrari family and to accompany FIS in its next phase of growth,” said Ivano Sessa, Partner at Bain Capital Private Equity.

NTG’s financial advisors were Houlihan Lokey and Zulli Tabanelli & Associati. Orsingher Ortu Avvocati Associati provided legal advice and PwC worked on the vendor due diligence.

 

Bain Capital has been advised by Mediobanca, Nomura, Latham & Watkins, Advancy, Bain & Company, PwC, Pirola Pennuto Zei & Associati and InterPharmaLink.

 

The transaction remains subject to approvals by competent regulatory authorities.

 

 

About FIS – Fabbrica Italiana Sintetici / NTG:

FIS – Fabbrica Italiana Sintetici S.p.A.

FIS (FIS – Fabbrica Italiana Sintetici SpA) was founded in 1957 in Montecchio Maggiore (VI) by the Ferrari family, which maintains ownership to this day. It’s a leader in Italy and one of the major operators in Europe in the production of active ingredients for the industry pharmaceutical and operates 3 plants in Italy: Montecchio Maggiore (VI), Termoli (CB) and Lonigo (VI). FIS belongs to the Nine Trees Group, and is also present in the USA (FIS North America), Japan (FIS Japan), and in China with a representative office. With a turnover of around 700 million euros, the company now has over 2000 employees, of which 250 are dedicated to research and development. Michele Gavino has led the company as Chief Executive Officer since February 2021.

 

For more information, visit: https://www.fisvi.com

 

 

About Bain Capital Private Equity:

Bain Capital Private Equity has partnered closely with management teams to provide the strategic resources that build great companies and help them thrive since its founding in 1984. Bain Capital Private Equity’s global team of more than 280 investment professionals creates value for its portfolio companies through its global platform and depth of expertise in key vertical industries including healthcare, consumer/retail, financial and business services, industrials, and technology, media and telecommunications. Bain Capital has 23 offices on four continents. Since its inception, the firm has made primary or add-on investments in more than 1,150 companies. In addition to private equity, Bain Capital invests across multiple asset classes, including credit, public equity, venture capital and real estate, managing approximately $165 billion in total assets and leveraging the firm’s shared platform to capture opportunities in strategic areas of focus.

 

For more information, please visit: www.baincapitalprivateequity.com

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EQT Private Equity to sell Ellab, following transformation into a leading validation & monitoring provider for the Biotech and Pharmaceutical industries

eqt
  • EQT Private Equity, together with its co-shareholders, to sell Ellab to Novo Holdings
  • Since EQT Private Equity invested in 2019, Ellab has transformed into a full-suite provider of validation and monitoring solutions and services, serving all the top 20 biotech companies and all the top 40 pharmaceutical companies globally
  • Transformation has resulted in Ellab tripling its revenues, EBITDA and number of employees, while experiencing approximately 20% annual organic revenue growth and completing 15 add-on acquisitions

EQT is pleased to announce that EQT Mid Market Europe (“EQT Private Equity”), together with its co-shareholders, have agreed to sell Ellab (“Ellab” or the “Company”) to Novo Holdings, which is responsible for managing the assets and wealth of the Novo Nordisk Foundation, one of the world’s largest philanthropic enterprise foundations.

Headquartered in Hillerød, Denmark, Ellab provides validation and monitoring solutions and services for biotech and pharmaceutical processes. Its solutions and services measure and document parameters such as temperature, pressure, and carbon dioxide. These help clients to ensure consumer safety and regulatory compliance while reducing time to market and the risk of product loss.

EQT Private Equity acquired Ellab in September 2019 with a vision to accelerate the Company’s growth journey by solidifying its core offering within validation solutions, while expanding into monitoring solutions and field services & consulting. Today, Ellab has transformed into a full solution provider, while tripling its revenues, EBITDA and employee base. It counts all the top 20 biotech companies and all the top 40 pharmaceutical companies globally as clients.

During EQT Private Equity’s ownership, Ellab shifted its customer focus towards high-growth industries such as biotech, cell & gene therapies, and contract development & manufacturing organizations. At the same time, it invested significantly in research & development, digitalization and personnel to strengthen the organization, while acquiring 15 companies around the globe. The Company has also defined a clear sustainability strategy, for instance by committing to the Science Based Targets initiative that requires Ellab to set greenhouse gas emission reduction targets in line with the 1.5° pathway described in the Paris Agreement.

Rikke Kjær Nielsen, Partner within EQT Private Equity’s Advisory Team, said, “Ellab’s solutions play a vital role in ensuring accuracy and compliance in its clients’ biotech and pharmaceutical processes, which is key for these companies. This was true when we first invested in Ellab and remains the case today. The difference now is the scale and flexibility that Ellab offers, as it has transformed into a full-suite provider of validation and monitoring solutions and services. It has been a privilege to partner with the entire Ellab management team, who have built a company with a strong culture and customer focus, dedication to innovation and commitment to consumer safety. We believe Novo Holdings is a great partner for the next stage of Ellab’s growth journey and we wish them all the best in the future.”

Ludvig Enlund, CEO of Ellab, said “With EQT Private Equity’s support, Ellab has transformed into a truly leading global player with best-in-class software and hardware for validation and monitoring for the life sciences industry, and today also holds a strong position within field services & consulting. We are grateful for the partnership and now look forward to continuing our journey with Novo Holdings.”

The transaction is subject to regulatory approval. Closing of the transaction is expected in Q3 2023.

Contact

EQT Press Office, press@eqtpartners.com, +46 8 506 55 334

About EQT
EQT is a purpose-driven global investment organization with EUR 119 billion in assets under management within two business segments – Private Capital and Real Assets. EQT owns portfolio companies and assets in Europe, Asia-Pacific and the Americas and supports them in achieving sustainable growth, operational excellence and market leadership.

More info: www.eqtgroup.com
Follow EQT on LinkedIn, Twitter, YouTube and Instagram

About Ellab
Headquartered in Hillerød, Denmark, Ellab provides Validation and Monitoring Solutions and Services used for measuring and documenting critical parameters such temperature, pressure and CO2 in mainly biotech and pharma processes. The Company serves all of the top 20 biotech companies and all of the top 40 pharma companies globally helping them ensure consumer safety and regulatory compliance, while reducing time to market and the risk of product loss.

More info: https://www.ellab.com/

About Novo Holdings A/S
Novo Holdings is a holding and investment company that is responsible for managing the assets and the wealth of the Novo Nordisk Foundation. The purpose of Novo Holdings is to improve people’s health and the sustainability of society and the planet by generating attractive long-term returns on the assets of the Novo Nordisk Foundation.

Wholly owned by the Novo Nordisk Foundation, Novo Holdings is the controlling shareholder of Novo Nordisk A/S and Novozymes A/S and manages an investment portfolio with a long-term return perspective. In addition to managing a broad portfolio of equities, bonds, real estate, infrastructure and private equity assets, Novo Holdings is a world-leading life sciences investor. Through its Seeds, Venture, Growth, and Principal Investments teams, Novo Holdings invests in life science companies at all stages of development.

As of year-end 2022, Novo Holdings had total assets of EUR 108 billion.
www.novoholdings.dk 

About the Novo Nordisk Foundation
Established in Denmark in 1924, the Novo Nordisk Foundation is an enterprise foundation with philanthropic objectives. The vision of the Foundation is to improve people’s health and the sustainability of society and the planet. The Foundation’s mission is to progress research and innovation in the prevention and treatment of cardiometabolic and infectious diseases as well as to advance knowledge and solutions to support a green transformation of society.

www.novonordiskfonden.dk/en

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Eurazeo provides a unitranche financing for Keensight Capital’s acquisition of Inke

Eurazeo

Eurazeo, through its Private Debt team, joined forces with Keensight Capital to support the acquisition of Inke through a unitranche credit facilty. The transaction is the 8th sponsor-led financing arranged in the Iberian Peninsula.

Set up in 1980 and based in Castellbisbal near Barcelona (Spain), Inke is the leader in micronization of complex Active Pharmaceutical Ingredients (“APIs”). The group has a specialization in inhalation APIs with a differentiated first-to-market approach. Inke combines a high regulatory expertise with close-knit relationships with major pharmaceutical companies worldwide, including in core markets such as the US, the EU and the highly regulated Japanese market.

Arnaud Maisonneuve, Managing Director, Eurazeo said:

« Inke has established itself as a leading manufacturer of complex micronized bronchodilators, demonstrating a high consistency of compliance, quality and differentiated capabilities to serve a blue-chip and global customer base. We feel confident that Inke will prosper and continue to expand its portfolio of APIs and its end-markets with the support of Keensight Capital. »

ABOUT EURAZEO
• Eurazeo is a leading global investment company, with a diversified portfolio of €35 billion in assets under management, including nearly €24.7 billion from third parties, invested in around 600 companies. With its considerable private equity, private debt as well as real estate and infrastructure asset expertise, Eurazeo accompanies companies of all sizes, supporting their development through the commitment of its nearly 410 professionals and by offering deep sector expertise, a gateway to global markets, and a responsible and stable foothold for transformational growth. Its solid institutional and family shareholder base, robust financial structure free of structural debt, and flexible investment horizon enable Eurazeo to support its companies over the long term.
• Eurazeo has offices in Paris, New York, London, Frankfurt, Berlin, Milan, Madrid, Luxembourg, Shanghai, Seoul, Singapore and Sao Paulo.
• Eurazeo is listed on Euronext Paris.
• ISIN: FR0000121121 – Bloomberg: RF FP – Reuters: EURA.PA

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EQT Private Equity and ADIA agree recommended cash acquisition with Dechra Pharmaceuticals PLC

eqt

With this acquisition, EQT X (target fund size of EUR 20.0 billion and hard cap of EUR 21.5 billion) is expected to be 20-25 percent invested (including closed and/or signed investments, announced public offers, if applicable, and less any expected syndication) based on its target fund size, subject to customary regulatory approvals.

The information contained herein does not constitute an offer to sell, nor a solicitation of an offer to buy, any security, and may not be used or relied upon in connection with any offer or solicitation. Any offer or solicitation in respect of EQT X will be made only through a confidential private placement memorandum and related documents which will be furnished to qualified investors on a confidential basis in accordance with applicable laws and regulations. The information contained herein is not for publication or distribution to persons in the United States of America. Any securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”), and may not be offered or sold without registration thereunder or pursuant to an available exemption therefrom. Any offering of securities to be made in the United States would have to be made by means of an offering document that would be obtainable from the issuer or its agents and would contain detailed information about the issuer of the securities and its management, as well as financial information. The securities may not be offered or sold in the United States absent registration or an exemption from registration.

Contact
EQT Press Office, press@eqtpartners.com, +46 8 506 55 334

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GHO Capital and Partners Group invest in Sterling Pharma Solutions, a leading pharmaceutical development and manufacturing organization

Partners Group

Baar-Zug, Switzerland; 25 May 2023

  • Since first partnering with GHO in 2019, Sterling Pharma Solutions has grown rapidly, tripling its revenues and quadrupling its earnings. Sterling is now the preferred partner to several leading pharmaceutical companies for handling the development of complex medicines and scaling up of manufacturing
  • Partners Group acquires a significant minority stake, bringing a wealth of healthcare expertise. GHO will remain Sterling’s majority shareholder and its new investment is supported by a consortium of investors, led by funds managed by AlpInvest Partners and Pantheon
  • The new investment will support Sterling’s growth trajectory in expanding production capacity across the UK, Europe, and the US, adding complementary capabilities and pursuing further strategic acquisitions

Global Healthcare Opportunities, or GHO Capital Partners LLP (“GHO”), the European specialist investor in global healthcare, and Partners Group, a leading global private markets firm, acting on behalf of its clients, today announce an investment in GHO portfolio company Sterling Pharma Solutions (“Sterling” or “the Company”), a global Contract Development and Manufacturing Organisation (“CDMO”).

Sterling provides a full range of CDMO services across the lifecycle of new, high-value active pharmaceutical ingredients (“APIs”) and is an industry leader in the early-stage development of antibody drug conjugates (“ADCs”), a fast-growing class of cancer treatments. Sterling handles the development of complex APIs and subsequent scaling up of manufacturing from pre-clinical to commercial scale. Sterling has five state-of-the-art manufacturing facilities in the US, UK, and Ireland. The Company benefits from a diversified blue-chip customer base and is a supply chain partner for the majority of the largest pharmaceutical companies.

Since partnering with GHO in 2019, Sterling has grown rapidly, both organically and through acquisition. The Company has transformed from a single-site UK CDMO to a global full-service complex small molecule API platform with differentiated chemistry capabilities. Sterling has tripled in revenues and quadrupled its earnings following strategically accretive M&A focused on capacity expansion, capability development, and a strategically relevant geographical footprint. Recently, Sterling’s acquisition of Novartis’ Ringaskiddy site saw the Company significantly increase its capacity, which included a long-term supply agreement with Novartis – reinforcing Sterling’s outstanding reputation within the pharmaceutical industry.

Partners Group acquires a significant minority stake, bringing a wealth of international healthcare expertise to the shareholder group and helping drive future value creation. GHO will remain Sterling’s majority shareholder and the current management team will continue to lead the Company. This new investment from GHO is supported by a consortium of investors, led by funds managed by AlpInvest Partners, a subsidiary of global investment firm Carlyle (NASDAQ: CG), and Pantheon.

The new investment will support Sterling as it accelerates its growth plans through the expansion of production capacity across the UK, Europe, and the US. This will enable the business to meet increasing demand from both new and existing customers, supporting all stages of development from clinical to commercial stages. The new funding will also enable Sterling to pursue additional strategic acquisitions to further expand its capabilities and geographic reach and continue to advance its strong commitment to ESG initiatives.

Kevin Cook, CEO, Sterling, says: “We have achieved remarkable growth over the last four years becoming a trusted partner to the pharmaceutical and biotechnology industries. We are proud of our success in meeting the often complex and demanding manufacturing needs of our customers on an international scale. Our continued sustainable growth has been underpinned by our partnership with GHO Capital, which has been instrumental in our success to date. We are delighted to welcome Partners Group, which, alongside GHO, will support our ambitious global growth trajectory. We look forward to continuing to provide industry leading service throughout the entire product lifecycle, to an ever-expanding international customer base.”

The Partners at GHO Capital comment: “We partner with management teams to deliver the healthcare of the future. Sterling is a leading example of how our deep industry expertise, combined with the GHO growth playbook, can generate long-term, sustainable value. We are immensely proud of the business that Sterling has become as a result of GHO’s partnership with management in supporting exceptional transatlantic growth, operational enhancements, internationalization and transformational M&A. We are especially glad to continue our strong partnership with Kevin and the management team and we look forward to working with Partners Group, which has significant global reach and expertise and will contribute to Sterling becoming the reference innovator-focused API CDMO globally.”

Pascal Noth, Head Private Equity Health & Life Europe, Partners Group, adds: “Advanced CDMOs have been a major focus of our thematic research and we have strong conviction in the growth potential of leading players that are capable of following the molecule across its lifecycle. We believe that strategic partners to innovative pharmaceutical companies will benefit from further outsourcing as well as production reshoring trends. Sterling’s focus on complex APIs means it is well positioned to capitalize on rising demand for next-generation small molecule medicines. We have been really impressed with Kevin and the management team and look forward to collaborating with them, as well as our partners at GHO, known for their extensive industry knowledge and successful growth strategies, on the Company’s next phase of transformational growth.”

Sterling was advised by Jefferies International Ltd as financial advisor, Macfarlanes LLP as legal advisor, L.E.K. Consulting LLP as commercial advisor, Deloitte LLP as finance, tax, and responsible investing due diligence advisor, and ERM as environmental advisor.

GHO was advised by Jefferies International Ltd as secondaries advisor, Slaughter and May and Kirkland & Ellis International LLP as legal advisors, and Deloitte LLP as structuring advisor.

Partners Group was advised by Ropes & Gray International LLP as legal advisor, Ernst & Young AG as commercial advisor, PricewaterhouseCoopers Ltd as financial, tax, and structuring advisor, Alvarez & Marsal Europe LLP as operations advisor, and ERM as environmental advisor.

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KKR to Acquire Bushu Pharmaceuticals

KKR

TOKYO & SAITAMA, Japan–(BUSINESS WIRE)– KKR, a leading global investment firm, and Bushu Pharmaceuticals Ltd. (“Bushu Pharma” or the “Company”) today announced the signing of definitive agreements under which KKR will acquire all shares in Bushu Pharma from BPEA EQT. Following the transaction’s completion, KKR aims to accelerate Bushu Pharma’s growth and further position the Company as a leading contract development and manufacturing organization (“CDMO”) for the pharmaceuticals market in Japan and worldwide.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20221219005856/en/

Founded in 1998, Bushu Pharma is a leading pure-play pharmaceutical CDMO based in Japan, which is the third-largest pharmaceutical market in the world. The Company is committed to producing, processing and delivering high-quality healthcare products to patients spanning categories including pharmaceuticals – such as oral solid dosages and injectables – and clinical trial materials. The Company additionally applies advanced quality control processes and supply chain management support for the inspection, packaging and distribution of pharmaceutical products. Bushu Pharma has Good Manufacturing Practice (“GMP”) certifications globally, and manufacture products for worldwide end-markets, with a particular focus on Japan and Asian countries, such as China.

Following the transaction’s close, KKR plans to work alongside Bushu Pharma’s management team to expand into new and growing segments, such as injectables, invest in further capacity expansion and quality control, and explore organic and inorganic opportunities for growth to deliver more healthcare solutions to patients.

Hiro Hirano, Co-Head of Private Equity for KKR Asia Pacific and Chief Executive Officer of KKR Japan, said, “We are proud to invest in the growth and success of Bushu Pharma, a premier manufacturer for pharmaceutical businesses. We see significant demand for strategic and reliable solutions to address a range of challenges facing the global healthcare industry. By leveraging KKR’s deep experience in healthcare, tech, and supply chain solutions, we aim to help Bushu Pharma to further scale its best-in-class business and to drive growth and technical innovation that will ultimately benefit patients in Japan and around the world.”

Tadao Takano, Chief Operating Officer and President of Bushu Pharma, said, “Bushu Pharma is pleased to welcome KKR as a new shareholder able to advance our company’s mission to deliver high-quality pharmaceutical products and solutions to patients in Japan and around the world. KKR brings to Bushu Pharma its deep knowledge of the pharmaceutical industry, its experience supporting global businesses in the sector, and its extensive investment experience in Japan. We look forward to working with the KKR team to pursue further growth opportunities, and thank BPEA EQT for their partnership with us these recent years.”

KKR is making its investment from one of KKR’s Asia-focused investment funds. The transaction is expected to be completed in Q1 2023, subject to customary approvals and closing conditions. Further details of the investment have not been disclosed.

About Bushu Pharmaceuticals Ltd.

Bushu Pharma was established in August 1998 as an independent pharmaceutical contract manufacturer. Bushu Pharma carries out pharmaceutical drug product contract manufacturing and packaging of clinical trials and commercial products in accordance with the latest GMP standards. Through the utilization of know-how and the latest industry information, Bushu Pharma prides itself in being able to offer added-value solutions to customers. For more information, visit www.bushu-pharma.com/en/.

About KKR

KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.

Media

For Bushu Pharmaceuticals
Corporate Planning
+81 49 233 4651

For KKR:
KKR Asia Pacific
Anita Davis
+852 3602 7335
Anita.Davis@kkr.com
or
Wei Jun Ong
+65 6922 5813
WeiJun.Ong@kkr.com

FGS Global (for KKR Japan)
Sam Brustad, +81 703853 3284
Deborah Hayden, +81 702492 0463
KKR-TYO@fgsglobal.com

Source: KKR

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BPEA EQT to sell Bushu Pharmaceuticals, a leading pharmaceutical CDMO in Japan

eqt

EQT is pleased to announce that the BPEA V Fund (“BPEA EQT”) has agreed to sell Bushu Pharmaceuticals (“Bushu” or the “Company”) to KKR.

Founded in 1998, Bushu is a leading pharmaceutical CDMO (Contract Development and Manufacturing Organization) and manufacturer of high-quality pharmaceutical and medical devices with advanced quality control and supply chain management support.

Headquartered in Kawagoe, Japan and with four manufacturing facilities across the country, Bushu serves both domestic and multinational pharmaceutical customers with manufacturing and packaging processes for a large variety of solid dosage products, injectables and filled vials, as well as clinical trial supplies. The Company has a wide range of loyal customers in the Japanese pharmaceutical market, well known for its high-quality standards, andit enjoys increasing outsourcing demand from Japanese and foreign pharmaceutical companies.

Since it was acquired by BPEA EQT (formerly BPEA) in December 2014, Bushu has solidified its capabilities to serve its growing customer base of global pharmaceutical companies. BPEA EQT supported the launch of the Company’s “Gateway-to-Asia” strategy, which allows international pharma companies to import bulk products into Japan for quality inspection, labeling, packaging, and distribution both within Japan and across other markets in Asia.

In 2022, Bushu acquired a factory from Sanwa Kagaku Kenkyusho with the capacity to handle contracts from both major domestic and foreign pharmaceutical manufacturers. Under BPEA EQT’s tenure, Bushu’s employee base has nearly doubled to a total of around 1,600. Additionally, the Company’s net revenue has grown by approximately 70 percent and its EBITDA increased by 50 percent.

Tadashi Maruoka, Partner within BPEA EQT’s Investment Advisory team, commented “We are proud of Bushu Pharmaceuticals’ development journey over our investment period. The company has grown to become one of the leading CDMOs in Japan today. We would like to thank Bushu’s Chairman of the Board Mr. Wes Wheeler and the highly esteemed management team led by CEO Mr. Tetsuichi Okada, President and COO Mr. Tadao Takano, CFO and CHRO Mr. Tetsuya Morikawa and all its employees for their hard work, collaboration and achievements”.

Tadao Takano, President and COO of Bushu Pharmaceuticals, commented “Over the past years, Bushu not only achieved impressive growth but also built a solid foundation to meet the rapidly growing demand as a CDMO and to play a greater role in the stable supply of pharmaceutical products throughout Japan and Asian countries. On behalf of the Bushu management team and all employees, I would like to thank BPEA EQT for its constructive and supportive partnership, which our whole team truly enjoyed.”

The transaction is subject to customary conditions and approvals and is expected to close in Q1 2023.

JP Morgan acted as exclusive financial advisor to BPEA EQT on the transaction.

Contact
Global: EQT Press Office, press@eqtpartners.com, +46 8 506 55 334
Japan: Kekst CNC, eqt.japan@kekstcnc.com, +81 3 5156 0187

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Ardian announces the sale of its stake in Unither Pharmaceuticals to a consortium led by the CEO Eric Goupil and comprising GIC, IK Partners, Keensight and Parquest

Ardian

  • 26 October 2022 Buyout France, Paris

Ardian, a world leading private investment house, today announces the sale of its majority stake in Unither Pharmaceuticals (“Unither”), a global leader in the development and manufacturing of sterile unit-doses, to a consortium of new and existing investors comprised of GIC, IK Partners, Keensight and Parquest and led by Eric Goupil, CEO of Unither.

Founded in 1993, Unither is a global player in the development and manufacturing of sterile unit-doses (Blow-Fill-Seal technology) for the pharmaceutical industry addressing the ophthalmology, respiratory and rhinology markets. The company runs seven manufacturing sites in addition to its Research and Development center, and is present in France, the United States, China and Brazil.

Through its partnership with the Ardian Buyout team, and under Eric Goupil’s leadership, the company significantly consolidated its position as a leader in BFS technology in Europe thanks to substantial industrial investments. Unither also reinforced its global leadership through capacity developments in the United States as well as acquisitions in China and Brazil. During the COVID-19 crisis, Unither demonstrated its strong capacity for innovation by developing a device based on BFS technology that enables single-dose injection of therapeutic products, including vaccines (Euroject).
With the backing of GIC, IK Partners, Keensight, Parquest and the management team, Unither is ideally positioned to achieve further growth in its targeted markets and continue to innovate to facilitate patients’ lives.

“We are very pleased to have been part of Unither’s growth for the past five years. Our strong relationship with Eric Goupil allowed us to help the group develop and consolidate its position as global leader. We would like to thank the whole Unither team and wish them a successful future alongside GIC, IK Partners, Keensight and Parquest.” Philippe Poletti, CEO Ardian France, Member of the Executive Committee and Head of Buyout Activity

“With Ardian’s support, we have been able to strengthen our business in the US, expand into China and continue investing significantly to cope with our customers’ strong demand and fuel our future organic growth. In collaboration with our new partners, GIC and IK and with the support of our historic partners Keensight and Parquest, we are seeking to build on this strong foundation, to continue satisfying our customers and leverage our global footprint. ” Eric Goupil, CEO of Unither

The transaction remains subject to the approval of the regulatory and competition authorities.

 

ABOUT ARDIAN

Ardian is a world leading private investment house, managing or advising $141bn of assets on behalf of more than 1,300 clients globally. Our broad expertise, spanning Private Equity, Real Assets and Credit, enables us to offer a wide range of investment opportunities and respond flexibly to our clients’ differing needs. Through Ardian Customized Solutions we create bespoke portfolios that allow institutional clients to specify the precise mix of assets they require and to gain access to funds managed by leading third-party sponsors. We also provide a specialist service for private clients through Ardian Private Wealth Solutions. Ardian is majority-owned by its employees and places great emphasis on developing its people and fostering a collaborative culture based on collective intelligence. Our 980+ employees, spread across 15 offices in Europe, the Americas and Asia, are strongly committed to the principles of Responsible Investment and are determined to make finance a force for good in society. Our goal is to deliver excellent investment performance combined with high ethical standards and social responsibility.
At Ardian we invest all of ourselves in building companies that last.

www.ardian.com

 

ABOUT UNITHER

Founded in Amiens, France, in 1993, Unither Pharmaceuticals is a global player in the manufacture of single-dose galenic forms for pharmaceutical companies and generics manufacturers (notably eye drops, saline solutions and anti-asthma medications in sterile unit doses and stick packs). With seven manufacturing sites and an innovation and development center based in France, the United States, Brazil and China, Unither Pharmaceuticals employs over 1,600 people.

Media contact

ARDIAN

HEADLAND

ardian@headlandconsultancy.com

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The Management led by Eric Goupil gathers a consortium to acquire Unither Pharmaceuticals from Ardian

IK Partners

The consortium comprises GIC and IK Partners (“IK”), entering the equity, as well as Keensight Capital (“Keensight”) and Parquest, reinforcing their existing positions. It will become the new shareholder of Unither Pharmaceuticals (“Unither” or “The Company”) alongside the management team.

Spun out of Sanofi in 1993, Unither is a leading European pharmaceutical contract development and manufacturing organisation (“CDMO”) producing complex sterile liquid formulations for medical use and is currently the global market leader in the Blow-Fill-Seal (“BFS”) technology, a sterile single-unit dosage format.

Headquartered in Amiens, France, Unither employs more than 1,600 people across seven manufacturing facilities in France, the US, Brazil, and China, as well as an additional R&D centre in Bordeaux, France. Its products are sold in over 100 countries demonstrating a well-established global footprint. The Company benefits from a long-standing and loyal customer base made up of medium to large pharmaceutical companies, biotechnology, generics and over-the-counter (“OTC”) players and is recognised for its technical expertise and industrial performance. It has a strong track record of organic growth and with the support of Ardian, Unither has enlarged its footprint to China to serve a growing global demand for its high-quality BFS products.

Together, GIC, IK, Keensight and Parquest will leverage the strong local footprint of their respective international platforms to support Unither’s future growth by: continuing to support new and existing customers in launching new products; further penetrating the US market; taking advantage of the significant growth expected in China; and expanding into BFS adjacencies such as vaccines and multi-dose preservative free dosage forms. The management team is significantly reinvesting its proceeds and the Company will continue to operate under Eric Goupil’s leadership as he transitions to the newly created role of Executive Chairman.

Financial details of the transaction are not being disclosed.

Eric Goupil, Executive Chairman at Unither Pharmaceuticals, said: “With Ardian’s support, we have been able to strengthen our business in the US, expand into China and continue investing significantly to cope with our customers’ strong demand and fuel our future organic growth. In collaboration with our new partners, GIC and IK and with the support of our historic partners Keensight and Parquest, we are seeking to build on this strong foundation, to continue satisfying our customers and leverage our global footprint.”

Philippe Poletti, CEO at Ardian France, Member of the Executive Committee and Head of Buyout Activity, said: “We are very pleased to have been part of Unither’s growth for the past five years. Our strong relationship with Eric Goupil allowed us to help the group develop and consolidate its position as a global leader. We would like to thank the whole Unither team and wish them a successful future alongside GIC, IK, Keensight and Parquest.”

Choo Yong Cheen, Chief Investment Officer of Private Equity at GIC, said: “We are excited to invest in Unither alongside Eric Goupil, IK and existing shareholders Keensight and Parquest. Unither is a clear market leader in the BFS business space with its innovative and diversified product portfolio, a steady customer base and highly resilient revenue model. We are confident in Unither’s long-term growth potential as the global CDMO market continues to benefit from an increase in pharma drug production and outsourcing trends. We look forward to partnering with the Company’s outstanding management team and our consortium to take Unither to its next phase of growth.”

Magdalena Svensson, Partner at IK and Advisor to the IK Partnership Fund II, said: “Under the leadership of Eric Goupil and with Ardian’s backing, Unither has established itself as a global market leader in sterile liquid formulations and the BFS segment. Having stolen a march on the rest of the sector, Unither holds a unique position which, thanks to the high barriers to entry and strong underlying markets, warrant high growth expectations. We look forward to actively contributing to the strengthening of Unither’s global industrial footprint and operations, with the support of our in-house platform teams. Together with management, GIC, Keensight and Parquest, we plan to pursue existing growth strategies and explore new avenues in the BFS field as well as in adjacent technologies.”

Pierre Remy, Managing Partner at Keensight, said: “We are extremely pleased to continue our strong partnership with Unither and its very talented management team, in an exciting new phase of the Company’s development. During our tenure as shareholder, the Company strengthened its leadership position globally and undertook a significant operational expansion in China and Brazil via two major acquisitions. By reinvesting in Unither, we remain committed to supporting the management team in helping them execute on their continued growth strategy, both organically in the rapidly expanding BFS market and through selective strategic acquisitions. We are very happy to continue the journey with Parquest and to be joined by GIC and IK.”

Denis Le Chevallier, Managing Partner at Parquest, said: “We are delighted to have supported a new stage of development alongside Eric Goupil and his teams. Since our first investment in 2006, Unither has enjoyed uninterrupted growth and is now the undisputed leader in BFS. We are convinced that this new chapter to be written alongside GIC, IK and Keensight will enable the group to continue and accelerate its development, particularly internationally.”

Completion of the transaction is subject to relevant legal and regulatory approvals.

PR Contacts

IK Partners
Vidya Verlkumar
Phone: +44 (0) 7787 558 193
vidya.verlkumar @ikpartners.com

Ardian
Headland
Ardian@headlandconsultancy.com

GIC
Samantha Chiene
Phone: +44 (0) 207 725 3557
samanthachiene@gic.com.sg

Mah Lay Choon
Phone: +65 6889 6841
mahlaychoon@gic.com.sg

Keensight Capital
Tim Lee
Phone: +44 (0) 7785 345 250
tlee@keensightcapital.com

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EQT Private Equity and Mubadala to acquire Envirotainer, the leading global provider of mission-critical biopharma transport services

eqt
  • As part of their broader strategic partnership, EQT Private Equity and Mubadala Investment Company to make a majority investment in Envirotainer, a global provider of mission-critical cold chain transportation solutions for pharmaceuticals
  • Envirotainer enables access to life-saving pharmaceuticals and vaccines via reliable and efficient cold chain solutions, and is the global leader in active temperature control for air transportation of temperature-sensitive pharmaceuticals
  • EQT Private Equity and Mubadala will support Envirotainer in its next phase of growth, by accelerating expansion in core markets and APAC in particular, scaling the newly launched CryoSure offering, investing in new technologies and continuing to roll-out third generation Releye platform

EQT is pleased to announce that the EQT X fund (“EQT Private Equity”), and Mubadala Investment Company (“Mubadala”), have agreed to acquire Envirotainer (the “Company”), the global leader of mission-critical, proprietary temperature-controlled supply chain solutions for the transportation of biopharmaceuticals, from Cinven and Novo Holdings. The enterprise value amounts to around EUR 2.8 billion.

Envirotainer was founded in 1985 in Stockholm, Sweden, where its headquarters, R&D and production are based. Envirotainer designs, manufactures and leases active temperature-controlled containers, used primarily for air freighting biopharma products. With a fleet of circa 6,700 containers globally and approximately 375 employees in 20 countries, the Company is the global leader in active temperature control for air transportation of temperature-sensitive pharmaceuticals. Envirotainer has more than 600 customers worldwide, including many global blue-chip pharma and biotech companies.

Millions of people across the globe depend on the safe delivery of biopharmaceuticals that require temperature control to maintain their integrity and quality. Today, lack of access to medicines is a cause for distress that disproportionately impacts underserved communities, whose situation is likely to be exacerbated by chronic diseases resulting from changing diets and lifestyles, as well as from air and water pollution. Envirotainer expands access to vital pharmaceuticals and vaccines through its patient-safe, reliable and efficient cold chain solutions, which also offer one of the lowest carbon footprint solutions in the industry.

EQT Private Equity and Mubadala will seek to support Envirotainer in its next phase of growth by accelerating expansion in APAC and continuing growth in its other core markets, and will leverage EQT’s local-with-locals approach and Mubadala’s global network to do so. Building on the sector-related expertise of EQT’s network and Mubadala, EQT Private Equity and Mubadala will help scale the newly launched CryoSure offering and continue the successful roll-out of third-generation Releye platform, while investing behind new technology innovations, digitalization and sustainability in its operations.

Ali Farahani, Partner within EQT Private Equity’s Advisory Team, said, “The temperature-controlled distribution of pharma products offers very attractive and thematic exposure to the fast-growing biopharma end-market. Envirotainer is an integral part of the global pharmaceutical infrastructure and the clear global market leader with significant scale advantages, superior operations and industry-leading performance and customer satisfaction. The company has a clear purpose of enabling access to life-saving pharmaceuticals and offers reusable solutions with significantly less CO2 emissions compared to traditional air-freight solutions. We continue to see significant growth potential ahead and are excited to partner with the management team to unlock the full potential together with our partners at Mubadala.”

Camilla Macapili Languille, Head of Life Sciences for Mubadala, said, “Envirotainer plays a mission-critical role in the healthcare ecosystem by ensuring the safe and reliable delivery of drugs from pharma companies to hospitals, clinics, and ultimately, patients. Their extensive international footprint ideally positions Envirotainer to meet the pharma industry’s growing need for global temperature-controlled distribution and as the undisputed market leader, they are continuing to pioneer developments in the sector with forward-thinking R&D innovation. We have strong conviction in the company’s growth trajectory and will work closely with management and our partners at EQT to ensure its long-term success.”

Peter Gisel-Ekdahl, CEO, “We are pleased with the confidence that EQT and Mubadala have shown us by investing in the company and look forward to closely collaborating to further develop the business. This long-term partnership will strengthen Envirotainer and help us deliver on our purpose of enabling access to life-saving pharmaceuticals. At the same time, this investment, from such esteemed investors, confirms the strength of Envirotainer’s business model and the company’s very exciting future.”

EQT and Mubadala were advised by Jefferies International (M&A), McKinsey & Company (commercial), White & Case (legal), and KPMG (financial, tax, operations).

The transaction is subject to customary conditions and approvals and is expected to close in Q3 2022. With the acquisition of Envirotainer, EQT X (target fund size of EUR 20.0 billion and hard cap of EUR 21.5 billion) will be 0-5 percent invested based on its target fund size. EQT X will be activated and start charging management fees upon the closing of its first transaction, currently expected to be the closing of the acquisition of Envirotainer. EQT IX is currently 80-85 percent invested, following recent portfolio company add-on acquisitions, and continues to be in its commitment period but management fees will, following activation of EQT X, be based on net invested capital.

Contact
EQT Press Office, press@eqtpartners.com, +46 8 506 55 334

The information contained herein does not constitute an offer to sell, nor a solicitation of an offer to buy, any security, and may not be used or relied upon in connection with any offer or solicitation. Any offer or solicitation in respect of EQT X will be made only through a confidential private placement memorandum and related documents which will be furnished to qualified investors on a confidential basis in accordance with applicable laws and regulations. The information contained herein is not for publication or distribution to persons in the United States of America. Any securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”), and may not be offered or sold without registration thereunder or pursuant to an available exemption therefrom. Any offering of securities to be made in the United States would have to be made by means of an offering document that would be obtainable from the issuer or its agents and would contain detailed information about the issuer of the securities and its management, as well as financial information. The securities may not be offered or sold in the United States absent registration or an exemption from registration.

About EQT
EQT is a purpose-driven global investment organization with EUR 77 billion in assets under management across 36 active funds. EQT funds have portfolio companies in Europe, Asia-Pacific and the Americas with total sales of approximately EUR 29 billion and more than 280,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.

More info: www.eqtgroup.com
Follow EQT on LinkedIn, Twitter, YouTube and Instagram

About Mubadala Investment Company
Mubadala Investment Company is a sovereign investor managing a global portfolio, aimed at generating sustainable financial returns for the Government of Abu Dhabi.

Mubadala’s $284 billion portfolio spans six continents with interests in multiple sectors and asset classes. It leverages its deep sectoral expertise and long-standing partnerships to drive sustainable growth and profit, while supporting the continued diversification and global integration of the economy of the United Arab Emirates.

More info: www.mubadala.com

About Envirotainer
Envirotainer is the undisputed global market leader in secure cold-chain solutions for intercontinental transport of pharmaceuticals. The company develops, manufactures, and offers leasing of innovative

 container solutions and dewars for cryogenic shipping, including validation, support, and service, for pharma products that require a controlled environment. Thanks to a truly global presence with the world’s largest active container fleet, the most extensive network, and more than 35 years of industry expertise, Envirotainer is able to meet the customers’ need for innovative and reliable solutions – available from any location to any destination. The company operates through an open, global network of airlines, forwarders and couriers and the headquarters is located outside of Stockholm, Sweden.

For more information, please visit  www.envirotainer.com

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