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.

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