Sun European Partners completes NextPharma deal
Aims to grow the business organically and through acquisitions
Sun European Partners, the European adviser to Sun Capital Partners, a US-based private equity firm, has completed its purchase of NextPharma Technologies, a global provider of contract manufacturing, product development, clinical trials and logistics services to the pharmaceutical and biotechnology industry.
Financial terms have not been revealed.
Headquartered in Surrey, UK NextPharma offers a range of services that span the drug development, manufacturing and distribution supply chain. The company is a leading outsourcing partner to the pharmaceutical, biotech and healthcare industries with seven manufacturing facilities, seven product development centres and six temperature-controlled storage and distribution sites across Europe and the US.
Bill Wedlake, chief executive of NextPharma, said: ‘We look forward to working with Sun European Partners to continue to grow the company and to expand into innovative new technologies and markets.’
Matthias Gundlach, vice president of Sun European Partners, added: ‘We are delighted by this acquisition. NextPharma is well positioned to benefit from the changing face of the drug industry, in particular using drug development and manufacturing outsourcing. It provides a good foundation from which to build the business organically and by acquisitions.’