Singapore-based private equity firm (PE) Everstone Capital has invested nearly $270 million for a substantial stake in Apothecon Group, which includes India-based Apothecon and US-based Navinta, per an announcement.
The combined business makes speciality formulations for regulated markets, with its own formulations and API manufacturing, and sells across the United States, Europe and other regions.
Founded in 2003, Apothecon has a portfolio spanning injectables, oral solids and other dosage forms, with manufacturing and R&D facilities in Vadodara, Hyderabad, New Jersey and Florida.
Everstone Capital said it plans to expand the company’s product pipeline, enter new markets and pursue acquisitions. The PE firm has picked up a substantial stake in the combined entity.
Waymade Capital, Apothecon’s European partner, also participated in the funding round through its investment vehicle.
“Apothecon Group specialises in complex formulations with a track record of launching differentiated products,” said Atul Kapur, co-founder and chief investment officer at Everstone Group, in a media statement. “With its own manufacturing facilities, the company serves key markets including the US and Europe.”
Everstone focuses on mid-market, control-oriented, and cross-border opportunities spanning technology, healthcare, financial services, and industrials.
Some of its portfolio companies include Calibre Chemicals, Sahyadri Hospitals, Innoveo, Burger King- India and Indonesia, Omega Healthcare, and Sula Vineyards, among others.
