New York, January 6, 2021 – SK Capital Partners LP, a private investment firm focused on the specialty materials, chemicals and pharmaceuticals sectors, today announced that funds it advises have signed a definitive agreement to acquire the Blow-Fill-Seal (“BFS”) Sterile Contract Development and Manufacturing Business (the “Business”) from Catalent Pharma Solutions, LLC. The acquisition of the Business, which will operate as a new independent company, is expected to close in April of 2021.
The Business is a leading BFS sterile contract development and manufacturing organization (CDMO) that operates out of a single site in Woodstock, Illinois, focusing on complex clinical to commercial stage formulation and manufacturing. The Business supports a global, blue-chip customer base with a broad array of products that leverage its BFS sterile manufacturing capabilities and formulation competency in complex chemistries including small molecule, biologics, macromolecules, and potent compounds.
Aaron Davenport, a Managing Director of SK Capital, stated, “Catalent’s BFS Business is a proven industry leader in Blow-Fill-Seal sterile manufacturing with an uncompromising commitment to the highest quality, safety, and reliability standards. We are excited about the opportunity to partner with the management and employees of the Business to create a focused and thriving independent company dedicated to providing its customers with the highest levels of service.”
“Divesting our BFS manufacturing business will allow us to concentrate on our growing core activities of developing oral, inhaled and biologic drugs with customers, as well as rapidly extending our technological portfolio of new, emerging modalities, including cell and gene therapies,” commented Jonathan Arnold, President, Oral and Specialty Delivery at Catalent. He added, “We would like to thank everyone at the Woodstock facility for their dedication and commitment to Catalent in their efforts to support the launch and supply of many essential drugs, and I am sure they will continue to thrive under the new ownership, whose team has extensive experience investing into and growing pharmaceutical businesses.”
Committed debt financing was provided by Cerberus Business Finance, LLC. Mizuho Securities served as financial advisor and Kirkland & Ellis LLP acted as legal counsel to SK Capital. RBC Capital Markets served as financial advisor and Paul, Weiss, Rifkind, Wharton & Garrison LLP acted as legal counsel to Catalent.
About SK Capital
SK Capital is a private investment firm with a disciplined focus on the specialty materials, chemicals and pharmaceuticals sectors. The firm seeks to build strong and growing businesses that create substantial long-term economic value. SK Capital utilizes its industry, operating and investment experience to identify opportunities to transform businesses into higher performing organizations with improved strategic positioning, growth and profitability as well as lower operating risk. SK Capital’s portfolio of businesses generates revenues of approximately $11 billion annually, employs more than 15,000 people globally and operates 135 plants in 28 countries. The firm currently has approximately $4.86 billion of assets under management. For more information, please visit www.skcapitalpartners.com.