A pharmaceutical firm based mostly in London which specialises in girls’s well being has been acquired for £1.2 billion.
Two non-public fairness companies have purchased Theramex, which develops and sells contraception, fertility, menopause, and osteoporosis merchandise, from CVC Capital Companions.
The corporate pledged to speed up its progress below its new house owners, Carlyle Group and PAI Companions, charting additional worldwide enlargement and the widening of its portfolio.
The three companies wouldn’t affirm the monetary phrases of the deal, however a supply mentioned Theramex had been bought for about £1.2 billion.
It was acquired by CVC from Teva Prescribed drugs for $703 million (£533 million) 4 years in the past and traces its roots again to 1954. Right this moment it sells greater than 20 merchandise in 57 nations, reaching about six million individuals. The group has about 480 employees.
Carlyle Group, based mostly in Washington, is likely one of the world’s largest non-public fairness companies. PAI, a part of Paribas till 2001, relies in Paris.
CVC is claimed to have been exploring a sale for a number of months amid heightened dealmaking exercise throughout the healthcare sector. Bloomberg Information first reported that it had appointed advisers in January.
Robert Stewart, chief government of Theramex, mentioned the deal would allow it to “additional speed up our progress” following the exit of CVC.
Lubna Qunash and Philipp Meyer, managing administrators of Carlyle’s Europe Companions advisory staff, mentioned: “We consider that Theramex’s longstanding and established place as a girls’s well being champion with a broad and complementary product portfolio are distinctive attributes which place the enterprise nicely for continued success.”
PAI, added that it could help each “natural and inorganic progress initiatives” pursued by Theramex.
Cathrin Petty, international head of healthcare at CVC, mentioned that Theramex has been “on the forefront of elevating consciousness and delivering higher therapies for girls” internationally. “We want the staff each success within the subsequent chapter of progress,” she mentioned.
Carlyle and PAI have been collectively suggested on the deal by Morgan Stanley, Jefferies and Greenhill & Co. CVC was suggested by Rothschild & Co and HSBC.