Via newly established Swedish limited liability company Roar BidCo AB, EQT IX has announced a public offer of SEK220 ($26.1) in cash per share to the shareholders of Recipharm.
The shareholders are also offered SEK1,427,010 in cash per SEK 1,000,000 in aggregate principal amount of convertible bonds.
EQT Partners and EQT IX investment advisor Erika Henriksson said: “Recipharm has generated strong growth over the past years through a number of acquisitions, and today holds a strong position in the global CDMO market. EQT wants to support Recipharm’s continued development, which will require significant and long-term investments.”
Established in 1995, Recipharm provides manufacturing and development services to companies in the pharmaceutical industry.
With around 9,000 employees, the CDMO supports pharmaceutical companies across the complete product lifecycle ranging from early development to commercial manufacturing.
With flexible development facilities, the company offers a range of GMP-compliant development services for drug substance, drug product, analytical chemistry and clinical trial material (CTM).
The company, which has a range of expertise and technologies, provides support and services ranging from development and procurement to full-scale manufacturing, distribution, tech transfer, stability studies and life cycle management.
Recipharm CEO Lars Backsell said: “In EQT, we have found a partner who shares our values as entrepreneurs and our vision for Recipharm. EQT has also an impressive track record of sustainable value creation and growth.
“We are convinced that EQT’s experience in developing companies will allow us to build an even stronger company faster in an industry in rapid change. We have chosen our partner carefully and are now committed to EQT.”
In October 2018, Recipharm completed the purchase of Sanofi’s inhalation contract manufacturing business including a manufacturing plant situated in Holmes Chapel, UK.