US personal fairness (PE) agency Platinum Fairness has acquired a controlling stake in Inventia Healthcare’s core Oral Stable Dosage (OSD) enterprise from PE agency Invascent’s India Life Sciences Fund III, New York Life Funding Administration’s Jacob Ballas India Fund III and associates of the corporate’s founding Shah household.
The Shah household is retaining a minority stake in Inventia. Invengene and Nutriventia, the injectables and nutraceuticals companies, respectively, will not be a part of the transaction and are being retained individually by the Shah household, in keeping with an August 30 media launch.
Monetary phrases of the acquisition or the scale of the stake weren’t disclosed.
Headquartered in Mumbai, Inventia was collectively based in 1985 by the corporate’s late chairman and managing director Janak Shah and government director Maya Shah. Inventia has over 100 prospects supplying each semi-finished and completed OSD formulations for each common and value-added generics. Inventia’s companions embody international and native prescription drugs corporations that promote in additional than 40 nations throughout North America, South America, Europe, Southeast Asia, Center East and Africa.
Inventia operates a producing facility in Ambernath and a analysis and improvement facility in Thane in Maharashtra, India. The corporate’s manufacturing platform is accredited by the US Meals and Drug Administration (FDA), the UK’s Medicines and Healthcare merchandise Regulatory Company (MHRA) and different regulatory authorities.
“This funding marks a major milestone within the journey of Inventia. As founders and long-standing stewards of the corporate, we’re thrilled to see Platinum Fairness’s funding in our core OSD enterprise,” mentioned Maya Shah and the late Janak Shah in a joint assertion previous to Janak Shah’s latest passing.
They added: “This partnership will harness Inventia’s strengths and Platinum’s operational experience to propel us to new heights. We stay deeply dedicated to our mission and are assured that this collaboration will drive additional innovation and development. Our imaginative and prescient for Inventia has all the time been to offer high-quality, accessible pharmaceutical merchandise, and with Platinum Fairness, we consider this imaginative and prescient will solely develop stronger.”
The acquisition is being led by Platinum Fairness’s Asia funding staff primarily based in Singapore.
“We consider Inventia is a powerful platform for development in a fragmented market, and our purpose is to create a bigger, extra diversified B2B enterprise centered on the engaging however underserved rising markets,” mentioned Platinum Fairness managing director Amit Sobti, in an announcement.
Sobti continued: “We’re excited to construct upon the sturdy basis set by the Shah household by bringing in our operational and monetary assets to additional institutionalise the corporate and set it up for achievement on a considerably higher scale. Inventia’s present product pipeline can drive sturdy natural development over the foreseeable future, which we are going to look to reinforce by means of acquisitions, with an emphasis on broadening the corporate’s product portfolio and capabilities.”
Kotzubei mentioned along with in search of add-ons for Inventia, Platinum Fairness will proceed to supply platform offers in India that match the agency’s funding technique.
“The buyout market in India continues to evolve and there are extra alternatives obtainable as we speak that match our method,” he defined. “There are extra mature corporations with extra want for operational help, together with founder or family-owned companies in search of a accomplice who cannot solely present capital, but in addition operational experience. Now we have lots of expertise in these conditions.”
Barclays served as unique monetary adviser to Platinum Fairness on the transaction. Latham Watkins served as worldwide authorized counsel alongside Trilegal as India authorized counsel for Platinum Fairness. Kirkland & Ellis offered financing counsel to Platinum Fairness on the transaction.
Rothschild & Co and Stifel Nicolaus India (previously Torreya Companions) served as monetary advisers to the sellers. Quillon Companions served as authorized counsel to the sellers on the transaction.
FinanceAsia has reached out for extra data.
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