Abu Dhabi’s sovereign wealth fund, Mubadala, and New York-based private equity group Kohlberg will take a majority stake in the pharmaceutical company PCI Pharma Services, UAE state news agency WAM said Monday.
Kohlberg is set to take a majority stake in the Philadelphia, US-based pharmaceutical company, while Mubadala will become a “significant investor,” WAM reported.
“Both Kohlberg and Mubadala’s experience and track record in supporting successful management teams will make a great impact on PCI’s continued journey of transformation as we focus on building capabilities to support the future demands of our biopharmaceutical customers in our shared goal of bringing life saving medicines to patients worldwide,” Chris Anderson, partner of Kohlberg said, according to WAM.
Partners Group, a global private markets investment manager, on the behalf of several clients and partners Thomas H. Lee Partners and Frazier Healthcare Partners, managed the agreement for the sale.
“Outsourced pharmaceutical services has been a key investment theme for us over the past few years, and we are excited to be partnering with one of the global leaders in this industry,” Camilla Macapili Languille, head of pharma & medtech, at Mubadala said, WAM reported.
“We have been particularly impressed by the quality and depth of PCI’s management team, as well as the company’s strong execution track record, impeccable values, and distinct vision for the long-term development of their business. We have strong conviction in the company’s growth trajectory and are committed to working with Kohlberg and Partners Group to ensure their long-term success,” she added.
Coronavirus: Abu Dhabi’s Mubadala expects U-shaped global recovery in 2021The global economy is likely to recover from this year’s virus-driven recession with 5 percent growth in 2021, according to Abu Dhabi’s $220 billion ... Coronavirus
Abu Dhabi's Mubadala says subsidiary begins producing N95 masks with HoneywellAbu Dhabi state fund Mubadala Investment Company said on Tuesday its subsidiary Strata Manufacturing has started to produce the N95 face masks used to ... Coronavirus
Abu Dhabi's Mubadala sells $4 bln in three-tranche bondsAbu Dhabi's state fund Mubadala sold $4 billion in three-tranche bonds on Tuesday, attracting orders worth nearly six times that amount, a document ... Economy