Pharma Execs Jumping Onboard Private Equity Train
Controlling Deals Gain Ground
More C-Suite level pharma executives are lending their domain expertise to private equity firms, which then use their skills for commercial due diligence on targets or in an operating partner role in portfolio companies once a deal is sealed. PEs are also increasingly opting for control deals, at least in India, with an aim to run the acquired firm professionally thereon.
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JB Chemicals has purchased a number of leading brands from Sanzyme, which it plans to scale up and institutionalize within India. The transaction, worth over $80m, is expected to close within the next two weeks.
Private equity investor Advent has acquired API maker ZCL Chemicals in India, its second transaction in a segment seeing rising interest as pharma de-risks sourcing for key ingredients post COVID-19-related turbulence.
US private equity firm KKR to acquire a majority stake in JB Chemicals, accelerating the Indian group's growth plans in branded formulations. Post a 54% stake acquisition for $414m via part-purchase from the founders and an open offer at INR745/share, KKR's final stake could rise to 64.9% if founders offer more shares.