Qualicaps has increased revenue by more than 50% since Carlyle took over in 2005
Mitsubishi Chemical Holdings (MCHC), a Japanese chemicals and healthcare business, is to acquire Qualicaps from US-based Carlyle Group for around JPY55.8bn (US$625m; €468m).
The transaction is subject to regulatory approvals and is expected to close in March.
Nara, Japan-based Qualicaps makes hard gelatin and non-gelatin cellulose-based capsules and pharmaceutical processing equipment used in the pharmaceutical and dietary supplement markets.
The Qualicaps Group is the largest provider of pharmaceutical capsules in Japan and the second largest in the global high quality capsule markets including North America and Europe with a 20% share.
Carlyle has supported Qualicaps’ global rebrand and transformation into an independent, fast-growing and highly profitable business
Carlyle acquired the company in 2005 from Shionogi & Co. The Washington, DC-based private equity firm has since transformed the business by expanding manufacturing capabilities and putting in a global marketing strategy.
Bernd Brust, CEO of Qualicaps, said: ‘We are delighted to have partnered with Carlyle, which has supported Qualicaps' global rebrand and transformation into an independent, fast-growing and highly profitable business.
‘During Carlyle’s ownership, our revenue and EBITDA increased by more than 50% and 120% respectively through development of Quali-V capsules and expansion into new markets and product segments.
‘We believe joining Mitsubishi Chemical Holdings Group will enable us to expand our business further, creating substantial synergies with Mitsubishi Chemical's healthcare business.’
Takaomi Tomioka, MD of The Carlyle Group added: ‘Mitsubishi Chemical is an excellent strategic partner for Qualicaps and this transaction is an exciting opportunity to ensure the business continues to maximise its full global potential.’