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MIAMI — H.I.G. Capital (“H.I.G.”), a number one world different funding agency with $65 billion of capital underneath administration, is happy to announce the sale of its portfolio firm, BIOVECTRA Inc. (“BIOVECTRA” or the “Firm”), a number one contract improvement and manufacturing group (CDMO) of lively pharmaceutical elements and intermediates, to Agilent Applied sciences, Inc. (NYSE: A) for a purchase order worth of $925 million.
Headquartered in Charlottetown, Prince Edward Island, Canada, BIOVECTRA has roughly 650 staff and eight services with over 270,000 sq. ft of facility area. The Firm produces biologics, extremely potent lively pharmaceutical elements, and different molecules for focused therapeutics.
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H.I.G. acquired BIOVECTRA in November 2019 and efficiently established the Firm as an unbiased, standalone group. H.I.G. supported the Firm in strengthening the chief administration staff, efficiently finishing three main facility build-outs, and rising the gross sales pipeline considerably whereas shifting the Firm’s enterprise profile to focus extra on industrial merchandise. Because of these strategic initiatives, the Firm achieved an industry-leading progress profile, leading to an impressive final result for shareholders.
Oliver Technow, BIOVECTRA’s CEO, commented, “In the present day is a testomony to the fame BIOVECTRA has constructed as a trusted accomplice with our marquis roster of shoppers and to our efforts to repeatedly develop our service providing, in the end higher serving sufferers’ lives. We’re grateful for H.I.G.’s position in our success these previous 5 years and are excited to additional construct on this success with Agilent by way of this synergistic pairing.”
Mike Gallagher, Managing Director at H.I.G., commented, “The BIOVECTRA staff has persistently executed an distinctive job at executing value-added strategic initiatives, and we’ve been happy to help them all through our partnership to turn out to be a pacesetter within the pharma CDMO area. We consider Agilent is a first-class group that may assist BIOVECTRA develop to even higher heights.”
Scott Zhu, Managing Director at H.I.G., added, “It has been a privilege to collaborate with Oliver and the whole BIOVECTRA staff. Their exhausting work and dedication have pushed distinctive progress, and we’re proud to have helped them improve their capabilities throughout this pivotal part. We sit up for following the staff’s continued success.”
Moelis & Firm LLC, Morgan Stanley & Co. LLC, and RBC Capital Markets, LLC, have been monetary advisors to H.I.G.
About BIOVECTRA
Headquartered in Charlottetown, Prince Edward Island, Canada, BIOVECTRA is a contract improvement and manufacturing group for key elements utilized in branded medication to deal with a broad vary of advanced illnesses. The Firm has over 650 staff and eight services in Charlottetown, Prince Edward Island and Nova Scotia, with over 270,000 sq. ft of facility area. Its processes and capabilities are uniquely designed to help its shoppers from the early levels of scientific improvement to scale-up and industrial manufacturing. For extra info, please go to biovectra.com.
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About H.I.G. Capital
H.I.G. is a number one world different funding agency with $65 billion of capital underneath administration.* Based mostly in Miami, and with places of work in Atlanta, Boston, Chicago, Los Angeles, New York, and San Francisco in america, in addition to worldwide affiliate places of work in Hamburg, London, Luxembourg, Madrid, Milan, Paris, Bogotá, Rio de Janeiro, São Paulo, Dubai, and Hong Kong. H.I.G. focuses on offering each debt and fairness capital to center market corporations, using a versatile and operationally centered/value-added method:
- H.I.G.’s fairness funds spend money on administration buyouts, recapitalizations, and company carve-outs of each worthwhile in addition to underperforming manufacturing and repair companies.
- H.I.G.’s debt funds spend money on senior, unitranche, and junior debt financing to corporations throughout the dimensions spectrum, each on a major (direct origination) foundation, in addition to within the secondary markets. H.I.G. additionally manages a publicly traded BDC, WhiteHorse Finance.
- H.I.G.’s actual property funds spend money on value-added properties, which may profit from improved asset administration practices.
- H.I.G. Infrastructure focuses on making value-add and core plus investments within the infrastructure sector.
Since its founding in 1993, H.I.G. has invested in and managed greater than 400 corporations worldwide. The Agency’s present portfolio consists of greater than 100 corporations with mixed gross sales in extra of $53 billion. For extra info, please confer with the H.I.G. web site at hig.com.
*Based mostly on complete capital raised by H.I.G. Capital and associates.
View supply model on businesswire.com: https://www.businesswire.com/information/house/20240923272694/en/
Contacts
Mike Gallagher
Managing Director
mgallagher@hig.com
Scott Zhu
Managing Director
szhu@hig.com
Alex Zisson
Managing Director
azisson@hig.com
1450 Brickell Avenue
31st Ground
Miami, FL 33131
P 305.379.2322
hig.com
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