BC Partners announced the sale of the majority stake in Pharmathen to the international private equity firm Partners Group. The transaction values the company at 1.6 billion euros.
Pharmathen was founded in 1969 and was acquired by BC Partners in 2015 for 475 million euros and is now the leading European company in the field of drug administration technology, the announcement said.
With a highly diversified business model and strong management team, the company specializes in the development of “extended release” technologies, with top R&D capabilities, serving a blue-chip customer portfolio in nearly 100 countries worldwide.
“Owned by BC Partners, Pharmathen has grown into a technology-driven company leading a highly attractive industry, with strong and sustainable organic EBITDA growth of 16% on a weighted annual average over the last 5 years. The company is a world leader in the field of extended release compound injection products (“LAI”), while at the same time it has created a technology platform for prolonged release treatments (“LATT”) that will fuel its growth for many years. “With a highly diversified product, customer and geographic base, Pharmathen is in a strong position to grow further, particularly in the US market, under the guidance of the Partners Group.”
Mr. Nikos Stathopoulos, Partner and Head of BC Partners said: “At Pharmathen, we saw an opportunity to make a significant investment in a high quality business to accelerate its organic growth and develop the company into a global leader. During the period of our ownership, we invested more than € 250 million in Research and Development and in new FDA approved production facilities, we almost doubled the number of employees and implemented projects that really transformed the company. This has allowed us to reposition Pharmathen as a technology-driven company in a very attractive industry with high barriers to entry, with a diversified business model, significant R&D projects in progress and top productive capabilities that give it strong prospects for greater growth. In collaboration with Management, we have built a truly admirable company, which I am convinced will continue to stand out under the management of Partners Group “.
Mr. Dimitris Kadis, CEO of Pharmathen, added: “I want to thank the BC team for their cooperation over the last six years. Their investment, support, and guidance have enabled them to be a key player in taking the company to the next level as a global leader in drug development and delivery. We are excited to partner with Partners Group in this new development chapter in our history, to build a strong drug development pillar that is a trusted partner of blue-chip customers around the world and has a positive impact on people’s lives ensuring that they can enjoy better health. ”
Consultants for BC Partners were Jefferies and Kirkland & Ellis.
The transaction is subject to obtaining the necessary regulatory approvals and is expected to be completed within 2021.
Latest News
ELSTAT: Overnight Stays in Greece Up in Feb.
The provisional monthly data revealed that arrivals at tourist accommodations amounted to 773,104 and overnight stays were 1,677,685
Electric Energy: Greece’s New Sustainable Export
Moreover, a surplus of generated electricity cannot be fully absorbed by domestic grids and this excess power finds eager buyers in the form of companies entering into Power Purchase Agreements (PPAs), willing to pay a premium for clean energy
IOBE Revises Greek GDP Growth Downward, to 2.1% For 2024
Annual inflation is expected to reach 3%, up from the previous forecast of 2.8%
Last Sections of 136km E65 Highway Inaugurated on Tues.
Athens to Karditsa drive time is expected to drop to two and a half hours (under normal conditions), and some three hours from Athens to Trikala
Reuters: Greece to Repay More Bailout Loans Ahead of Maturity in 2023
The country has relied solely on international markets for its borrowing needs since a third institutional bailout ended in 2018
Ag Min. Avgenakis: Greece-China Cooperation in Research, Education in Agri-Food Sector
Greek minister tours cutting-edge hydroponics and robotics facilities at the Chinese Academy of Agricultural Sciences in Beijing
Mini Holiday Season in Greece for Upcoming Orthodox Easter
Occupancy rates reach up to 90% domestically for accommodations open ahead of peak summer season
Greek PM Mitsotakis Says Fight Against Inflation Ongoing
The Premier made statement during a visit an an open vegetable market
Unpaid Taxes in Greece Reach 1.539bln Euros
As the figures revealed the number of debtors totaled 3,878,712 individuals and legal entities.
ELSTAT: Greek Primary Surplus Reaches 1.9% of GDP in 2023
Greek debt saw a slight dip to 356.7 billion euros by the end of 2023, down from 356.8 billion euros a year prior