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Advent International to invest $175 mn in Felix Pharma

VCCircle

VCCircle · 2m ago

Advent International to invest $175 mn in Felix Pharma

Advent International is set to invest $175 million in Felix Pharmaceuticals Pvt Ltd, an Ireland-based animal healthcare company with operations in India. The private equity firm will acquire a significant minority stake through a combination of primary infusion and secondary transactions. This move follows reports from last year indicating Felix's intent to raise funds and potential exits by existing investors. The agreement highlights Advent's strategic interest in expanding its portfolio in the healthcare sector.

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Advent International to invest $296 mn in Apollo Hospital unit

VCCircle

VCCircle · 1y ago

Advent International to invest $296 mn in Apollo Hospital unit

US private equity firm, Advent International, has agreed to invest INR 2,475 crore ($296m) to acquire a minority stake in Apollo HealthCo. The investment will allow for the merger of wholesale pharma distribution company Keimed and digital healthcare business Apollo 24/7. Advent will invest in two tranches to acquire a 12.1% stake in the merged entity, giving Apollo HealthCo an enterprise value of INR 22,481 crore. Following the merger, Apollo Hospitals will remain the largest controlling shareholder with a stake of at least 59.2%.

Advent-owned Suven Pharma to buy majority stake in NJ Bio for $64 mn

VCCircle

VCCircle · 8m ago

Advent-owned Suven Pharma to buy majority stake in NJ Bio for $64 mn

Indian contract development and manufacturing organization (CDMO) Suven Pharma, owned by private equity firm Advent International, is set to acquire a majority stake in US-based NJ Bio for $64.4 million. Suven Pharma will purchase a 56% stake in NJ Bio, a technology-driven CDMO specializing in complex drug modalities, at a pre-money valuation of $100 million. The deal will involve a combination of primary and secondary investments, with Suven paying $49.4 million to buy out existing minority shareholders and infusing $15 million in primary equity. The transaction is expected to close this month.

Advent may invest up to $10 bn in India; Mizuho to buy stake in lender

VCCircle

VCCircle · 1y ago

Advent may invest up to $10 bn in India; Mizuho to buy stake in lender

US private equity firm Advent International plans to invest $5-10 billion in India over the next five years. Despite concerns about high valuations, Advent remains optimistic about the Indian market. Advent International Chairman David Mussafer stated that the firm has already invested $5.8 billion in India since 2009 and is looking to make further significant investments. In another development, Mizuho is set to acquire a stake in an Indian lender.

Exclusive: KreditBee Subsidiary KB NBFC Raises $32 Mn In Debt Funding

Inc42 · 1y ago

Exclusive: KreditBee Subsidiary KB NBFC Raises $32 Mn In Debt Funding

KB NBFC has secured debt funding from Yubi, Dzerv, Neo Group, OfBusiness, SK Finance, and Oxyzo. As a lending partner of KreditBee, KB NBFC joins other partners such as Incred Finance, Vivriti Capital, Northern Arc, and Pay U Finance. KreditBee previously raised $9.4 million in its extended Series D funding round from Advent International, MUFG Bank, and Premji Invest.

Animal pharma firm Felix plans fundraise, early backers to exit

VCCircle

VCCircle · 1y ago

Animal pharma firm Felix plans fundraise, early backers to exit

Felix Pharmaceuticals, an animal pharma company based in Ireland and operating in India, is planning to raise funds for expansion and to allow some existing investors to exit. The company aims to raise capital through a fundraising round and is looking for potential investors. This move is part of Felix Pharmaceuticals' strategy to grow its business and provide opportunities for investors to liquidate their holdings.

VIP revives stake sale talks; Beams Fintech Fund to invest $58 mn

VCCircle

VCCircle · 5m ago

VIP revives stake sale talks; Beams Fintech Fund to invest $58 mn

Dilip Piramal, promoter of VIP Industries Ltd, has revived plans to sell a controlling stake in the luggage and travel accessories company. This decision follows stalled negotiations with private equity firm Advent International around six months ago due to valuation disagreements. Meanwhile, Beams Fintech Fund plans to invest $58 million. These developments reflect ongoing strategic shifts within the company as it navigates growth and investment opportunities in a competitive market.

Advent-controlled Suven Pharma appoints former Piramal exec as chairman

VCCircle

VCCircle · 11m ago

Advent-controlled Suven Pharma appoints former Piramal exec as chairman

Suven Pharmaceuticals, controlled by private equity firm Advent International, has appointed Vivek Sharma as its new executive chairman. Sharma, former CEO of Piramal Pharma Solutions, takes over from Annaswamy Vaidheesh, who will become vice-chair of Suven's Advisory Council. The move comes as Advent plans to merge its pharmaceutical portfolio companies Cohance Lifesciences and Suven to create a diversified contract development and manufacturing organization and active pharmaceutical ingredients leader in India. Advent acquired a majority stake in Suven in December 2022. Suven reported a net profit of INR 300.3 crore ($39.8 million) for the fiscal year 2023-2024, down 27% from the preceding year.

Mankind Pharma secures CCI approval for ₹13,360-crore worth acquisition of Bharat Serums and Vaccines | Mint

Livemint

Livemint · 10m ago

Mankind Pharma secures CCI approval for ₹13,360-crore worth acquisition of Bharat Serums and Vaccines | Mint

- The Competition Commission of India (CCI) has approved the proposed acquisition of Bharat Serums and Vaccines by Mankind Pharma for ₹13,630 crore. - Mankind Pharma announced in July that it would acquire Bharat Serums and Vaccines from private equity firm Advent International for around ₹13,630 crore. - Mankind Pharma will raise up to ₹10,000 crore through the issuance of non-convertible debentures and commercial papers. - The acquisition of Bharat Serums and Vaccines will establish Mankind Pharma as the market leader in the Indian women's health and fertility segment. - Mankind Pharma is one of the largest pharmaceutical companies in India, engaged in developing, manufacturing, and marketing pharmaceutical finished dosage formulations. - Bharat Serums and Vaccines is involved in research, development, manufacturing, and distribution of pharmaceutical formulations, APIs, and health supplements.

Mankind Pharma to buy Bharat Serums as Advent International exits

VCCircle

VCCircle · 1y ago

Mankind Pharma to buy Bharat Serums as Advent International exits

Mankind Pharma has agreed to acquire Bharat Serums and Vaccines (BSV) from private equity firm Advent International for around $1.63 billion. This acquisition will position Mankind Pharma as a leader in the Indian women's health and fertility drug market and provide access to other critical care products. BSV has a niche portfolio in women's health, with a strong R&D center and a diverse product pipeline. The company reported revenue of around $237 million in FY24, with annualized revenue growth of 21% over the last three years.

Mankind Pharma in talks with PE for consortium bid of Bharat Serums: Report

Livemint

Livemint · 1y ago

Mankind Pharma in talks with PE for consortium bid of Bharat Serums: Report

Pharmaceutical company Mankind Pharma is reportedly in talks with private equity firms, including Bain Capital, Blackstone, Carlyle, and KKR, to form a consortium bid to acquire Bharat Serums and Vaccines (BSV). BSV is being sold by its current owner, Advent International, with a price tag of over $2 billion. However, sources suggest that the final transaction may range between $1.5 - 1.8 billion. Mankind Pharma is looking to gather funds for the potential acquisition, either independently or by partnering with another investor. The company is also planning to raise funds through a qualified institutional placement.

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