Emirates gains presence in the pharmaceutical sector
PCI Pharma Services, a leading provider of global pharmaceutical and biopharmaceutical supply chain solutions and a Partners Group portfolio company, announced the signing of a definitive agreement for the acquisition of a majority stake in the company by Kohlberg & Company, a leading private equity firm based in Mount Kisco, New York, with more than 30 years of successful experience partnering with management and companies similar to PCI Pharma Services. Mubadala Investment Company, a sovereign wealth fund based in Abu Dhabi, United Arab Emirates (UAE), will also become a major investor in PCI.
The private markets investment manager Partners Group reached an agreement to sell its majority stake in PCI Pharma Services on behalf of its clients and together with consortium partners Thomas H. Lee Partners and Frazier Healthcare Partners. Following the sale to Kohlberg and Mubadala, Partners Group will retain a significant minority interest in the entity.
PCI Pharma Services, headquartered in Philadelphia, Pennsylvania, is a recognized industry leader and trusted partner offering a wide range of integrated pharmaceutical supply chain solutions from early stage drug development through commercial launch and ongoing supply with global capabilities for drug development and manufacturing, clinical trial services and commercial packaging services.
"The PCI Group has embarked on a journey to transform the company by executing a successful growth strategy that provides customers with innovative and integrated supply chain solutions with industry-leading customer experience by differentiating itself through investment in global capabilities, operational excellence, technology and our greatest asset, our talented people," said Salim Haffar, CEO of PCI in a statement released by state news agency WAM. "Kohlberg brings considerable and successful experience in the areas of biopharmaceuticals and medical devices, and I am pleased to continue to use them to accelerate the growth of our commercial, clinical trial and developmental manufacturing businesses in this new alliance. Both Kohlberg and Mubadala's experience and track record of supporting successful management teams will have a great impact on PCI's continuing transformation journey as we focus on developing capabilities to support the future demands of our biopharmaceutical customers in our common goal of bringing life-saving medicines to patients around the world," he added.
"We identified PCI as a best-in-class company led by a world-class management team. We are honored to have the opportunity to work with Salim and his team in their next phase of transformational growth and value creation," said Chris Anderson, partner at KohIberg.
KohIberg and Mubadala plan to partner with the PCl management team, led by Salim Haffar, to continue the company's transformation journey by adding capabilities to enhance its customer service experience and enable it to bring life-saving biopharmaceutical therapies to market.
"We are delighted to partner with PCl's world-class management team, and believe that the partnership of Kohlberg, Mubadala and Partners Group is an optimal combination to support the acceleration of managing their growth and value creation pipeline," said Matt Jennings, Kohlberg operating partner and future president of PCI. "Salim's inspirational leadership, clear vision for the future, and focus on expanding the customer experience gave us confidence in him and his management team, and in the long-term future potential for PCI's business.
Camilla Macapili Languille, Director of Pharma & Medtech Mubadala, commented on this significant investment: "Outsourced pharmaceutical services have been a key investment theme for us over the past few years, and we are excited to partner with one of the world's leaders in this industry. I am particularly impressed by the quality and depth of PCI's management team, as well as the company's strong track record of execution, impeccable values and distinct vision for the long-term development of its business. We have a strong belief in the company's growth path and are committed to working with Kohlberg and Partners Group to ensure its long-term success.