Permira Funds acquire Cambrex Corp $2.4 billion

Permira Funds to acquire Cambrex Corp for $2.4 billion

9:15 AM, 8th August 2019
Cambrex Corporation  logo

EAST RUTHERFORD, US: Equity firm Permira Funds has signed definitive agreement to acquire Cambrex Corporation, in a transaction valued at approximately $2.4 billion.

Cambrex Corporation is the leading small molecule company providing drug substance, drug product and analytical services across the entire drug lifecycle.

Under the terms of the merger agreement, Cambrex shareholders will receive $60.00 in cash for each share.

Cambrex has grown to become the premier contract development and manufacturing organization in the small molecule space over the last several years. Closing is expected to occur during the fourth quarter of 2019. 

“We are excited to announce this transaction with Permira, a global private equity firm that has made significant investments in the pharma services space.  This agreement is a strong endorsement of our strategy and represents significant value for our shareholders. Cambrex will continue to invest aggressively in our commitment to our global customer base, where we are constantly looking at ways to provide the broadest possible range of world class services,” said Steve Klosk, President and CEO of Cambrex. 

“We are very excited to back Cambrex in its next phase of growth. Over many years, Cambrex has built a leading position with best-in-class capabilities and facilities, backed by an excellent reputation for quality and technical expertise.  We look forward to partnering with Cambrex’s talented management and employees to support the growth of its integrated services offering,” added Henry Minello, Principal in the Global Healthcare Group of Permira.

Morgan Stanley & Co. LLC is acting as exclusive financial advisor and Kirkland & Ellis, LLP is serving as legal advisor to Cambrex.  RBC Capital Markets is acting as exclusive financial advisor and provided committed debt financing to the Permira funds and Skadden, Arps, Slate, Meagher & Flom, LLP is serving as legal advisor to the Permira funds.

© Worldofchemicals News



Your Comments (Up to 2000 characters)
Please respect our community and the integrity of its participants. WOC reserves the right to moderate and approve your comment.

Related News

Teva CFO Michael McClellan steps down, citing personal reasons

JERUSALEM, ISRAEL: Teva Pharmaceutical Industries Ltd said that Michael (Mike) McClellan, Executive Vice President and Chief Financial Officer (CFO), ...

Read more
Indorama acquires Huntsman’s integrated oxides & derivative biz for $2 bn

BANGKOK, THAILAND: Indorama Ventures PCL has entered into a deal to acquire Huntsman’s world-class integrated oxides and derivative businesses, ...

Read more
Stringent VOC regulations to drive global abrasion resistant coatings market

DUBLIN, IRELAND: According to the recent report by Research and Markets, the abrasion resistant coatings market is projected to reach $10.5 billion by ...

Read more
Oil India appoints Harish Madhav as new Director-Finance

NOIDA, INDIA: Oil India Limited said that it has appointed Harish Madhav as Director-Finance on the company’ board, effective from 2 August 2019 ...

Read more
Messer sells business in Denmark to competitor

BAD SODEN, GERMANY: Messer Industries has divested its business in Kolding, Denmark, with effect from 1 August 2019. The company said that the buyer ...

Read more
Merck acquires German laboratory informatics company

DARMSTADT, GERMANY: Merck KGaA has acquired BSSN Software, a Germany-based laboratory informatics company that makes data more readily accessible for ...

Read more uses cookies to ensure that we give you the best experience on our website. By using this site, you agree to our Privacy Policy and our Terms of Use. X