Cambrex, a CMO of small-molecule active pharmaceutical ingredients and drug products, has been acquired by an affiliate of Permira Funds, private-equity firm, for approximately $2.4 billion, including Cambrex’s net debt. The companies had announced the acquisition earlier this year (August 2019).

With the closing of the deal, Cambrex announced the appointment of Wayne Hewett, currently Chairman of DiversiTech, a Permira portfolio company and a Board member of Wells Fargo and The Home Depot, as Chairman of the Board of Directors.

Cambrex signed the definitive agreement with an affiliate of Permira Funds earlier this year (August 2019). Under the agreement, Cambrex shareholders will receive $60.00 in cash for each share of Cambrex common stock.

The move by Cambrex to be acquired follows two large-scale acquisitions by the company. Last year (2018), Cambrex acquired Halo Pharma, a contract provider of drug-product development and manufacturing services, for $425 million. Earlier this year (January 2019), Cambrex acquired Avista Pharma Solutions for $252 million to add early-stage development and analytical testing services to the company’s position in drug-substance manufacturing.

Source: Cambrex