Sees opportunity to grow the business both organically and by acquisitions
Sun European Partners, the European adviser to Sun Capital Partners, a US private equity firm, has agreed to buy NextPharma Technologies, a UK-based provider of contract services to the pharmaceutical and biotechnology industry.
Terms of the deal have not been disclosed.
NextPharma’s services span the drug development, manufacturing and distribution supply chain. It has seven manufacturing facilities, seven product development centres and six temperature-controlled storage and distribution sites across Europe and the US, which support more than 200 customers. It is headquartered in Send, Surrey.
‘The pharmaceutical industry is increasingly using drug development and manufacturing outsourcing,’ said Matthias Gundlach, vice president of Sun European Partners.
‘NextPharma, with its strong track record, reputation and state-of-the-art facilities, is well positioned to capitalise on these trends. We see significant opportunity to grow the business both organically and by acquisitions and look forward to working with management to achieve this potential.’
NextPharma upgraded many of its plants during 2010, adding microbiology facilities and a new bottling line at its site in Göttingen, Germany, expanding its semi-solid hormones facility in Waltrop, Germany, and upgrading the sterile vial area at Braine-l’Alleud in Belgium.
Bill Wedlake, ceo of NextPharma, added: ‘We are excited to work with Sun European Partners to continue to grow the company and to expand into innovative new technologies and markets.’