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PTSM: Pharmaceutical Technology Sourcing and Management
Permira will acquire LSNE, a CDMO for the pharmaceutical and medical device markets.
Permira, the global private equity firm, announced on March 27, 2017 that a company backed by the Permira funds has signed a definitive agreement to acquire Lyophilization Services of New England, Inc (LSNE), a contract development and manufacturing organization for the pharmaceutical and medical device markets, in partnership with management. As part of the transaction, LSNE Founder and Chief Executive Officer Matt Halvorsen will maintain a significant equity stake in the company and will continue to lead the company in his current role.
In conjunction with the transaction, Claes Glassell, the former CEO of CMC Biologics and a 30-year pharmaceutical industry veteran, will join as chairman of the board of LSNE in support of the management team and growth strategy. The Permira funds’ investment will support the company’s growth, including expanding the company’s capacity and address commercial-stage opportunities, extending its capabilities in manufacturing and development services, and pursuing selective acquisitions.