July 20 (SeeNews) - UK-based investment firm BC Partners said it has agreed to sell a majority stake in Greece-founded drug delivery technology company Pharmathen SA to Swiss private equity investor Partners Group in a deal that values the target company at about 1.6 billion euro ($1.88 billion).
"Under BC Partners' ownership, Pharmathen has become a technology-driven leader in a highly attractive sector, with strong and sustained organic EBITDA growth of 16% CAGR over the last five years," BC Parners said in a press release on Monday.
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Founded in Greece in 1969 and currently headquartered in Amsterdam, Pharmathen is focused on developing, manufacturing and out-licensing generic drugs and pharmaceutical technologies. It undertakes research and development with two facilities, along with manufacturing at two sites in Greece.
Pharmathen was acquired by funds advised by BC Partners for 475 million euro in 2015, according to the statement.
The transaction with Partners Group, which hinges on regulatory clearances, is expected to close in 2021.
($1=0.848146 euro)