PharmaZell, a leading independent manufacturer of niche active pharmaceutical ingredients (APIs), was acquired by Bridgepoint from DPE Deutsche Private Equity and Maxburg Capital Partners for an undisclosed sum.
PharmaZell is a market leader in the highly resilient and specialty API market where it has a diversified portfolio of over 70 APIs, and enjoys leading industry positions in several products that treat respiratory, inflammatory and liver diseases driven by changing lifestyle habits. Many of the Company's products require special handling procedures and/or technologies. Headquartered in Raubling (near Munich), PharmaZell operates four state-of-the-art production and R&D sites in Germany, Italy and India with over 900 employees globally.
The global market for small molecule APIs is estimated at over $70bn and growing continuously, driven by rising health standards and increasing drug consumption in emerging markets. In addition, the trend to outsourcing continues driven by cost optimisation and streamlining initiatives by the pharma majors.
Commenting on the transaction, PharmaZell CEO Dr. Oliver Bolzern, said: "We welcome Bridgepoint as our new shareholder. In Bridgepoint we have found a partner who understands our business and who will work with us to help us realise our ambitions for further growth."
Carsten Kratz, Senior Partner of Bridgepoint, Frankfurt commented: "PharmaZell represents an exciting opportunity to invest in a robust platform with an experienced management team and a high-quality customer base in the growing and non-cyclical pharma market. With a strong track record of growth, the company also offers the prospect of further new products and with Bridgepoint will have the resources and reach to further develop selective acquisition opportunities."
Guido Prehn, Managing Partner at DPE Deutsche Private Equity, added: "Since our investment into PharmaZell in early 2014, the company has generated double-digit annual growth at industry-leading margins, almost doubling in size. It has been a fantastic partnership with management and we are truly happy to have found in Bridgepoint a new growth-focused home for this great company."
Advisers involved in this transaction included:
For Bridgepoint: Alantra (M&A), HSBC (M&A), Results Healthcare (M&A), Freshfields (legal), EY (financial & tax), BCG (commercial).
For DPE: Rothschild (M&A), Latham & Watkins (legal), Deloitte (financial & tax), L.E.K. (commercial) as well as ERM (ESG).
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