Partners Group, a private markets investment manager, has agreed to acquire the pharmaceutical services provider PCI Pharma Services. The company is being sold by Frazier Healthcare Partners, which acquired PCI in 2012. Frazier will retain a minority investment in the company. The terms of the transaction were disclosed.

PCI, headquartered in Philadelphia, Pennsylvania, in the US, offers outsourced services across the entire pharmaceutical supply chain, including drug development and manufacturing, clinical trials, and packaging services. PCI employs more than 2,800 people across the US and Europe, and generated sales of more than $475 million in 2015.

Following the acquisition, Partners Group plans to work with PCI's management team, led by CEO Bill Mitchell, to add more specialized offerings to the product range and expand the company both organically and through add-on acquisitions.

Source: PCI Pharma Services