H.I.G. Capital Completes Acquisition of BioVectra
MIAMI--(BUSINESS WIRE)--Nov 4, 2019--
H.I.G. Capital (“H.I.G.”), a leading global private equity investment firm with over $34 billion of equity capital under management, is pleased to announce that one of its affiliates has completed the acquisition of BioVectra Inc. (“BioVectra” or the “Company”), a leading contract development and manufacturing organization (CDMO) of active pharmaceutical ingredients and intermediates.
Founded in 1970, BioVectra’s core competencies include microbial fermentation, complex chemistry, high potency, and biologics. They impact the lives of patients by producing products that are used to treat cancer, kidney disease, cardiovascular disease, multiple sclerosis, and many other complex diseases. The Company is strategically located in Canada with over 110,000 ft 2 of manufacturing space uniquely designed to support its biopharmaceutical clients from the early stages of clinical development to scale-up and commercial manufacturing.
“We are very pleased to partner with Oliver Technow as well as his exceptional leadership team and dedicated employees,” said Mike Gallagher, Managing Director at H.I.G. Capital. “Oliver and his team have expanded BioVectra’s presence by pursuing strategic capital expenditure programs to significantly expand capacity. We believe the Company is well positioned to capitalize on the growing demand for its broad set of technical capabilities and exceptional quality track record.”
“We are excited to enter into this new chapter with H.I.G. Capital.” said Oliver Technow, Chief Executive Officer of BioVectra. “We have been fortunate over the last few years with the support of Mallinckrodt Pharmaceuticals to execute on our strategic growth plan. We look ahead to continuing on this path with H.I.G. Capital, an experienced investor in the CDMO space. H.I.G. is committed to our strategy and management team, and we look forward to continuing to pursue the Company’s various growth initiatives.”
BioVectra is a CDMO that serves global pharmaceutical and biotech companies with full-service cGMP outsourcing solutions for intermediates and active pharmaceutical ingredients (APIs) at all scales. BioVectra’s operations are located in Charlottetown, Prince Edward Island and Windsor, Nova Scotia. An innovative and reliable service partner with a strong regulatory history, BioVectra has over 45 years of experience specializing in microbial fermentation, complex chemistry, high potency, biologics and formulation development. For more information about BioVectra, please visit www.biovectra.com.
About H.I.G. Capital
H.I.G. is a leading global private equity and alternative assets investment firm with over $34 billion of equity capital under management.* Based in Miami, and with offices in New York, Boston, Chicago, Dallas, Los Angeles, San Francisco, and Atlanta in the U.S., as well as international affiliate offices in London, Hamburg, Madrid, Milan, Paris, Bogotá, Rio de Janeiro and São Paulo, H.I.G. specializes in providing both debt and equity capital to small and mid-sized companies, utilizing a flexible and operationally focused/ value-added approach:
Since its founding in 1993, H.I.G. has invested in and managed more than 300 companies worldwide. The firm’s current portfolio includes more than 100 companies with combined sales in excess of $30 billion. For more information, please refer to the H.I.G. website at www.higcapital.com.
* Based on total capital commitments managed by H.I.G. Capital and affiliates.
View source version on businesswire.com:https://www.businesswire.com/news/home/20191104006018/en/
CONTACT: Michael Gallagher
KEYWORD: UNITED STATES NORTH AMERICA CANADA FLORIDA
INDUSTRY KEYWORD: GENERAL HEALTH FINANCE BANKING HEALTH PROFESSIONAL SERVICES
SOURCE: H.I.G. Capital
Copyright Business Wire 2019.
PUB: 11/04/2019 05:00 PM/DISC: 11/04/2019 05:01 PM