Date: 2014-07-28
Type of information: Company acquisition
Acquired company: Penn Pharmaceutical Services (UK)
Acquiring company: Packaging Coordinators (USA - PA)
Amount: £127 million (€159.8 million - $215.6 million)
Terms: * On July 28, 2014, Penn Pharmaceutical Services announced an agreement for the sale of its business to Packaging Coordinators Inc (PCI), a USA-headquartered global leading packaging services provider, in a £127million deal. This transaction provides a final exit for leading mid-market private equity firm LDC which invested £33m in 2007 with completion due shortly. The pharmaceutical manufacturers’ specialism in drug development, manufacturing and packaging services will complement US based PCI’s growth in clinical trial and commercial supply services in both North America and Europe.
Details: Penn Pharmaceuticals is a global provider of services to the pharmaceutical and biotech industry. The company is headquartered in Tredegar, Wales in the United Kingdom. The company provides selected Contract Development and Manufacturing Organisation (CDMO) services to a global customer base to support the outsourcing needs of international customers including those in Europe, the USA and Japan. Penn Pharma’s services include formulation development and analytical services, support for clinical trial studies by manufacturing and labelling investigational products for distribution to clinical sites worldwide, support for the importation and release of non-EU products. Penn Pharma has also specialist facilities for the supply of commercial licensed products including those requiring contained operations, protecting both operators and the environment. Over the years it has grown its facilities, to include a new world class 15,000 sq ft facility for the development and manufacture of tablets and capsules containing highly potent compounds, which opened in September 2013. In 2014 Penn launched an additional capacity expansion programme for large-scale commercial manufacturing and packaging operations. Penn also has offices in Japan and a US subsidiary based business development team.
Related: services CRO CDMO
