IVENIX acquired by FRESENIUS

The private equity arm of Goldman Sachs Asset Management has entered into a definitive agreement to acquire a majority equity stake in Dutch pharmaceutical company Norgine, successfully outbidding rival sponsors Bain and Cinven in a highly competitive auction process. The Stein family, the company's historical owner for over 110 years, is relinquishing majority control of the asset while retaining a significant minority stake to actively support the business through its next phase of development

Astorg has entered into an agreement to acquire CordenPharma from International Chemical Investors Group (ICIG), a leading pharmaceutical contract development and manufacturing organization (CDMO) specializing in complex drug development and manufacturing. CordenPharma covers the full pharmaceutical lifecycle, from early-stage development through to large-scale commercial production. The company operates a diversified technology platform spanning peptides, lipids and carbohydrates, highly potent active pharmaceutical ingredients (HPAPIs), injectables and small molecules

Fresenius agreed to acquire a 55% majority stake in mAbxience from its founding shareholders, with a contractual put/call option mechanism covering the remaining 45% of the share capital. The acquisition delivers on Fresenius Kabi's core "Broaden Biopharma" growth vector under its Vision 2026 strategy, addressing a critical gap in the division's value chain by adding flexible, single-use biologic drug substance manufacturing capacity. The transaction is expected to generate material operating and cost synergies, primarily driven by leveraging mAbxience's manufacturing capabilities for Fresenius Kabi's existing biosimilars portfolio, and to create an end-to-end integrated biopharmaceutical platform serving both internal programmes and third-party CDMO clients

This transaction marks the third leveraged buyout for HTL Biotechnology, with Montagu Private Equity entering into exclusive negotiations to acquire a majority stake from Bridgepoint. Partners Group joined Montagu as a co-investor in this operation, while the existing management team remains significantly involved in the capital. The strategic rationale for this LBO is to accelerate HTL,s transformation from a specialized hyaluronic acid producer into a diversified, global biopolymer platform. Under the previous ownership, the company significantly expanded its R&D capabilities, doubled its production capacity with a €50M industrial investment, and established a strong presence in the US and Chinese markets

Permira acquired BPL from its sole shareholder, Tiancheng International Investment (TII), which had owned the business since 2016. The acquisition was part of a larger strategic plan to merge BPL's robust US collection network and specialized rare disease portfolio with Kedrion. By detaching BPL from its Chinese parent company, Permira allowed the business to refocus on its core UK and US markets. The combination created massive synergies in fractionation capacity and plasma supply, solving long-standing raw material bottlenecks for the UK-based manufacturing facilities

Ardian acquired a majority stake in Biofarma Group from White Bridge Investments. Ardian's entry is designed to transform the European leader into a global champion, specifically targeting expansion into the US and APAC markets while maintaining its technological lead in the high-margin probiotic segment.

Anjac acquired a majority stake in Apollo Healthcare Corp marking its 8th acquisition in five years. The founders, the Wachsberg brothers, remain as co-CEOs and shareholders. This deal is the cornerstone of Anjac's North American expansion, following the 2019 acquisition of Cosmetix West. The merger allows Anjac to offer global industrial capacity and specific OTC technologies (like FDA-approved sun care) to its international brand customers.

Permira acquired a controlling stake in Kedrion from the founding Marcucci family and existing institutional investors FSI and CDP Equity. The transaction was structured as a partnership where the Marcucci family, FSI, and CDP Equity reinvested a significant minority stake to maintain the group's Italian heritage and operational continuity. The deal was contingent on the simultaneous acquisition of BPL to create a unified global platform. This allowed Kedrion to secure its supply chain and significantly expand its US and international footprint while transitioning from a family-run business to a private equity-backed global player

The strategic investment in Resonetics by Carlyle signifies a major territorial and technical advancement for the organization, building upon the momentum of eight successful add-on acquisitions. The strategic rationale for this transaction centers on a "platform-acceleration" maneuver, merging the target's industry-leading technical operational depth in micro-manufacturing with the new sponsor’s extensive global network and expertise in healthcare digitalization. This alignment provides the organization with the scientific talent and technological hardware required to address the increasing clinical demand for miniaturized, minimally invasive interventional components

Planmeca has successfully finalized the acquisition of the treatment unit and instrument business from a major diversified global medical manufacturer. This strategic transaction represents a significant consolidation of the global dental equipment market, bringing together two of the most technically advanced portfolios in the industry. The strategic rationale for the move centers on the high degree of industrial synergy between the target’s mechanical instrumentation excellence and the group's existing strength in digital 3D imaging and software interfaces