Germany's Aenova has sealed a deal for contract development and manufacturing outfit Haupt Pharma, a buyout that expands its capabilities and global reach.
Without disclosing financial terms, Aenova said the Haupt deal will add new manufacturing abilities to its suite of contract services, provide its first foray into Asia and grow its workforce from 2,500 to more than 4,000. Both parties expect the deal to close by the end of the year.
Back in September, reports surfaced that Aenova and BC Partners, its private equity owner, had pulled together a roughly $170 million loan with eyes on Haupt. The final transaction was funded by that debt and an undisclosed equity investment from BC.
Last year, BC bought Aenova for a reported $620 million, vowing from the start to look for M&A opportunities that would grow its presence in the outsourcing world. Now, with the Haupt deal, Aenova's footprint will increase from 8 to 21 sites around the world, bringing along the technology for sterile manufacturing and the production of special active ingredients.
"The strategic activities of both companies complement each other very well, and this move gives us further areas of expertise strongly focusing on forward-looking sectors in the pharmaceutical market, which are a perfect fit with our existing portfolio," Aenova CEO Heiner Hoppmann said in a statement.
- read the announcement