The Management of Pharmathen announces the signing of a partnership agreement in principle for the acquisition of a majority stake of shares of the Group from the investment group BC Partners. Katsos family remains in the Pharmathen Group, keeping a significant stake of shares and the management of the group.
BC Partners is a leading private equity firm with advised funds of c. €13 billion (c. $15 billion). Founded in 1986 as one of the few truly pan European buy-out investors, BC Partners has grown and evolved into a leader in buy-outs, principally investing in larger businesses in Europe and North America through its established network of offices in London, Paris, Hamburg and New York. BC Partners executives operate as an integrated team, acquiring and developing businesses to create value in partnership with management. Since inception, BC Partners has completed 88 investments in companies with a total enterprise value of €96 billion.
Pharmathen focuses on developing, manufacturing and out-licensing complex generic pharmaceutical products. It was founded in 1969 and has since developed a diversified base of ca. 180 global blue chip customers. Pharmathen's business is entirely vertically integrated, with 1.000 employees working across three state of the art research laboratories and two manufacturing units. Its activities extend from the development of new drugs to their distribution, with its products sold in over 80 countries worldwide.
Mr. Nikos Stathopoulos, Managing Partner of BC Partners, commented: “We are delighted to be partnering with Pharmathen’s founders and management team to further strengthen the continued growth of the Company through new product development, international expansion and acquisitions, in the growing sector of generic pharmaceutical products, in which Pharmathen is a European leader”.
The President of Pharmathen, Mr. Vassilios Katsos, on the occasion of the signing of the agreement in principle with BC Partners, commented: “With this agreement, Pharmathen safeguards its already strong foundations and is significantly reinforced, opening new perspectives for the Group. The management of Pharmathen remains focused on further developing the business, consistent with its strategy: Research-Extroversion-Investments. Our target is to create an international pharmaceutical Group, whose heart beats in Greece”.