Kühne Holding AG has entered into a definitive agreement to acquire a majority stake in Aenova Group from the international investment firm BC Partners. In a move to ensure continuity and strategic alignment, funds advised by BC Partners will reinvest alongside Kühne Holding to maintain a minority position in the company. The transaction was structured and executed in close partnership with E3X Partners, acting as the lead advisor and investment partner for the Kühne family vehicle. The strategic rationale for the acquisition is focused on expanding Kühne Holding’s portfolio into the pharmaceutical services sector, attracted by Aenova’s strong financial foundation and long-term growth prospects. Under BC Partners' ownership, Aenova achieved record financial results and established itself as a top-ten global CDMO. The new ownership structure is designed to transition the company from a traditional private equity cycle to a long-term "evergreen" investment horizon, providing the stability needed to build highly sought-after technology platforms and specialized development services.

The Aenova Group is a leading global contract development and manufacturing organization (CDMO) serving the pharmaceutical and healthcare industries. Headquartered in Starnberg, Germany, the company operates as a comprehensive "one-stop shop" for the development, production, and packaging of a vast array of drug products. Its technical capabilities span all common dosage forms (including solid, semi-solid, liquid, sterile, and non-sterile applications) across both human and animal health. The group is particularly noted for its expertise in handling diverse active ingredient classes, ranging from standard pharmaceuticals to specialized food supplements, with high-containment capabilities (OEB 1 to 5). Its business model focuses on providing end-to-end supply chain services to global pharma companies, supported by a network of 14 specialized manufacturing sites across Europe and the USA. By combining operational excellence in conventional manufacturing with advanced technology platforms, Aenova addresses the complex regulatory and technical requirements of the modern pharmaceutical market, positioning itself as one of the ten largest CDMOs worldwide.