Two Italian pharmaceutical manufacturing companies combine to create growth
TowerBrook Capital Partners has agreed to sell Archimica Group to Euticals Group for an undisclosed sum. The deal should be completed early next month.
London, UK-based investment management firm TowerBrook acquired Archimica, a pharmaceutical fine chemicals company, in June 2006. The firm, headquarted in Origgio, Italy, has approximately 550 employees at six production sites in Italy, France, Germany, US and UK and achieved sales of €131m in 2009, a 16% increase from 2008. It focuses on starting new projects in clinical phases II and III and on new generic drug development.
Euticals Group, headquartered in Milan, Italy, is a fully integrated custom synthesis and active pharmaceuticals ingredients contract manufacturing organisation with sales in 2010 of €93m and five production sites in Casaletto, Lodi, Rozzano and Varese.
The companies expect the combination to be strategic, creating new opportunities to further develop their business activities in the fine chemicals sector.
TowerBrook Capital Partners is an investment management firm with approximately US$5bn under management. The firm is based in Europe and the US and focuses on making investments in European and North American companies.