HIGH RIDGE BRANDS (ORAL CARE PORTFOLIO) acquired by PERRIGO COMPANY

Royal DSM reached an agreement to acquire 100% of Glycom A/S. The strategic rationale for the acquisition is to accelerate DSM’s growth in the Early Life Nutrition (ELN) segment by adding HMOs (a novel, high-growth ingredient) to its portfolio. DSM intends to leverage its global sales force to offer Glycom’s HMOs to its broad customer base, reducing Glycom’s historical dependency on a single major customer (Nestlé). Furthermore, DSM aims to utilize its R&D and clinical competencies to speed up the development of next-generation HMOs and introduce these ingredients into new markets such as medical nutrition and pet food. The acquisition is expected to be highly synergetic, with DSM targeting an EBITDA contribution and EPS accretion of €0.10–€0.15 by 2021 as the "SaaS-like" recurring revenue from long-term supply contracts scales up.

LBO France acquired a controlling stake in Dutscher, replacing Five Arrows (who had held the majority since 2014). This Secondary LBO also marked the exit of the founder's son, who held ~40% but had no operational role, completing the transition from a family-owned business to a financial-backed platform.

Ceva Sante Animale completed a historic "Jumbo LBO". This transaction allowed the management team (800+ executives) to retain over 50% of the capital—a record for a deal of this size in France (comparable only to the Legrand buyout in 2002). Four new long-term investors joined the "Friends of Ceva" consortium: Tethys Invest, PSP, Mitsui, and Klocke. Historical investors, led by Temasek, significantly reinvested their proceeds.

Dentressangle has entered into exclusive negotiations to acquire a majority stake in Marle Group from IK Investment Partners on a preemptive basis, successfully securing the asset outside of a traditional, highly competitive auction process. Marle Group is a premier European leader and a dominant global contract manufacturing organization (CMO) specializing in high-precision orthopedic implants and surgical instruments. The company commands high barriers to entry rooted in its fully vertically integrated manufacturing process (foundry, machining, specialized coating, sterile packaging) and strict international regulatory compliance (FDA, CE mark). Dentressangle’s investment thesis centers on deploying patient, long-term family capital to drive an aggressive international "buy-and-build" strategy (specifically targeting capacity expansion in North America) while diversifying Marle’s capabilities into adjacent high-margin medical device manufacturing niches.

Sterimed, a global leader in medical sterilization packaging, has entered into exclusive negotiations with Sagard to organize a secondary LBO. This transaction facilitates the exit of Meeschaert Capital Partners, which held a majority stake since 2016 following the group's spin-off from ArjoWiggins. The current management team, led by CEO Thibaut Hyvernat, will remain significantly invested in this new chapter.

Permira, the global private equity firm, successfully completed the acquisition of Cambrex Corporation, a premier small molecule CDMO, in a take-private transaction that signaled a major consolidation move in the pharmaceutical services sector. The transaction was structured as a merger whereby shareholders received $60.00 in cash per share, representing a significant premium of 47.1% over the undisturbed share price. The deal allowed Cambrex to delist from the New York Stock Exchange and transition into a private entity, providing the management team with the long-term capital and operational flexibility required to further integrate its acquisitions and invest in global capacity expansion. Permira's investment thesis focused on capitalizing on the increasing trend of pharmaceutical companies outsourcing complex chemical manufacturing and analytical testing.

Ionisos, a leading European specialist in cold sterilization services, has entered its fifth LBO cycle following its acquisition by 3i Infrastructure. The London-listed investor is deploying �220 million to acquire up to 100% of the company's equity from Ardian Expansion, which had held the asset since 2016. The remaining shares are held by the management team.

Permira acquired a majority stake in Quotient Sciences from GHO Capital, which had owned the business since 2015. Under GHO's four-year ownership, the company underwent a major transformation, expanding its service offering into commercial manufacturing and establishing a significant presence in the United States through strategic investments and acquisitions. The transaction provided GHO with a strong exit while securing new capital for Quotient to continue its international expansion.

Ardian acquired a majority stake in Sintetica from the majority shareholder Daphne and the owner family. The transaction was structured as a partnership, with the existing shareholders and management team reinvesting via a significant minority stake to maintain continuity. At the time of the deal, Sintetica was in a phase of hyper-growth (31% CAGR between 2016-2018). Ardian's investment was designed to accelerate the company's internationalization—expanding its reach beyond the 45 countries it already served—and to fuel R&D for new patented, "ready-to-use" drug delivery systems that optimize hospital efficiency and patient safety.

ICG acquired 100% of DOC Generici from CVC Capital Partners, marking the company's third private equity cycle. Merieux Equity Partners joined as a strategic co-investor to leverage its industrial expertise in life sciences. The deal was financed by a syndicate of banks including UniCredit, BNP Paribas, Credit Agricole, and Barclays. The investment thesis was built on DOC's resilient "asset-light" business model, which delivers high margins and strong cash flow conversion. Under ICG's ownership, the group aims to further expand its product pipeline and potentially explore international M&A to diversify its purely Italian revenue base.