Following the sale, to private equity firm Kohlberg and Mubadala, PCI's parent, Partners Group, will retain a meaningful minority equity stake. The terms of the transaction were not disclosed. — WAM photo
ABU DHABI — Mubadala Investment, an Abu Dhabi-based company, on Monday said it has invested in PCI Pharma Services (PCI), a pharmaceutical and biopharmaceutical global supply chain solutions provider, alongside Kohlberg, private equity firm headquartered in New York.
Following the sale, to private equity firm Kohlberg and Mubadala, PCI's parent, Partners Group, will retain a meaningful minority equity stake. The terms of the transaction were not disclosed.
Headquartered in Philadelphia, Pennsylvania, PCI Pharma Services is a recognized industry leader and trusted partner providing a broad range of integrated pharmaceutical supply chain solutions from the earliest stages of drug development through to commercial launch and delivering ongoing supply with global capabilities for drug development & manufacturing, clinical trials services and commercial packaging services. PCI spans a global footprint of 25 GMP facilities across six countries and employs 3,900 people worldwide.
"PCI teams have embarked on a purposeful journey over recent years to transform the company by executing a successful growth strategy providing customers with innovative and integrated supply chain solutions with the industry-leading customer experience by differentiating through investment in global capabilities, operational excellence, technology and our biggest asset, our talented people", said Salim Haffar, PCI’s CEO.
"Kohlberg brings considerable successful experience in the biopharmaceuticals and medical device areas, and I am thrilled to be continuing with them to accelerate the growth of our commercial, clinical trial services, and development manufacturing businesses under this new alliance. Both Kohlberg and Mubadala’s experience and track record in supporting successful management teams will make a great impact on PCI’s continued journey of transformation as we focus on building capabilities to support the future demands of our biopharmaceutical customers in our shared goal of bringing life-saving medicines to patients worldwide.
"We identified PCI through our Outsourced Pharmaceutical Services White Paper, and our larger industry practice in Pharmaceutical and Medical Products & Services, as a best-in-class company led by a premier management team. We are honored to have the opportunity to work with Salim and his team on their next phase of transformational growth and value creation," commented Chris Anderson, Partner of KohIberg.
KohIberg and Mubadala plan to partner with PCl's management team, led by CEO Salim Haffar, to continue the Company's transformation journey by adding specific capabilities and geographies organically and inorganically to improve its customer service experience and enable its customers to bring lifesaving biopharmaceutical therapies to market. Leveraging the global growth trends in biologics and specialized drug therapies, future capabilities include sterile fill-finish of injectables, expanding high potent and specialized manufacturing and further geographic expansion into Asia and greater Europe.
"We are thrilled to be partnering with PCl's world-class management team, and we believe the partnership of Kohlberg, Mubadala and Partners Group is an optimal combination to support management's acceleration of its growth and value creation pathways," said Matt Jennings, Operating Partner of Kohlberg and future Chairman of PCI.
"Salim's inspirational leadership, clear vision for the future and focus on expanding customer experience gave us confidence in him and his management team, and the long-term future potential for the PCIbusiness."
Camilla Macapili Languille, head of pharma & Medtech, Mubadala, said: "Outsourced pharmaceutical services have been a key investment theme for us over the past few years, and we are excited to be partnering with one of the global leaders in this industry. We have been particularly impressed by the quality and depth of PCI’s management team, as well as the company’s strong execution track record, impeccable values, and distinct vision for the long-term development of their business. We have a strong conviction in the company’s growth trajectory and are committed to working with Kohlberg and Partners Group to ensure their long-term success." — SG
