BC Partners agrees to buy Aenova Group

Aims to grow the German firm through acquisitions and organic growth

Private equity group BC Partners has agreed to buy the Aenova Group, a German manufacturer of vitamins and generic drugs, from Bridgepoint, the previous majority shareholder.

The purchase price has not been disclosed and the deal is subject to antitrust clearance.

Stefan Zuschke, managing partner at BC Partners, said Aenova is ‘superbly positioned’ and as well as continued organic growth, there are plans to make further acquisitions to ‘broaden the company’s range and additionally to enhance its competitive position in the international markets’.

Aenova’s management team led by ceo Heiner Hoppmann and cfo/cpo Frank Elsen will continue to lead the company.

Michael Davy, a partner at Bridgepoint and chairman of Aenova, said: ‘During Bridgepoint's ownership Aenova has been transformed by management into one of Europe's leading contract development and manufacturing organisations making it a key partner for many of Europe's leading blue chip pharmaceutical companies. Aenova is well invested and has strong prospects for further growth.’

Hoppmann added: ‘BC Partners is management’s preferred partner as we will be able to continue and expand our proven strategy of customer centricity, quality, innovation and growth.’

Bridgepoint first invested in Aenova in 2005. The contract pharmaceuticals manufacturer employs around 1,600 people and has annual sales of €250m. It is targeting earnings before interest, tax, depreciation and amortisation (EBITDA) of about €53m in 2012.

Aenova was formed by Bridgepoint through the merger of Swiss Caps, a maker of soft capsule vitamins, supplements and pharma products, with Dragenopharm, a German contract manufacturer for the prescription drugs market.

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