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Cambrex reports that the acquisition by the investment group will facilitate ongoing growth.
Cambrex Corporation announced on Dec. 4, 2019 that the company’s sale to an affiliate of the Permira funds completion has been completed. In August 2019, the company reported an acquisition agreement valued at approximately $2.4 billion.
In a Dec. 4, 2019 press statement, Cambrex noted the investment “will support the ongoing growth of Cambrex’s integrated services offering by enhancing the company’s ability to service its global customer base, and broadening its capabilities to provide additional world class services to support the analysis, development and manufacturing – from preclinical through commercial phases – of drug substances and products.”
“The completion of this transaction kicks off the next exciting phase of growth for our company,” commented Steve Klosk, president and CEO of Cambrex in the press statement. “We look forward to working with the Permira team to further enhance our best-in-class capabilities, strengthen our market-leading position, and broaden and deepen our customer relationships.”
The company also announced that Wayne Hewett was appointed as chairman of the board of directors. He currently serves as chairman of DiversiTech, a Permira portfolio company, and is a board member of Wells Fargo and The Home Depot.
Cambrex expanded beyond its small-molecule drug substance offerings with the purchase of Halo Pharma in 2018 and Avista Pharma Solutions in 2019, adding drug product manufacturing and early stage and analytical testing services to its portfolio.