METRICS CONTRACT SERVICES acquired by CATALENT

Stanley Capital Partners acquired a majority stake in Laboratoire X.O following the liquidation of its former owner, Novalpina Capital. The deal resolved a year-long legal dispute between management and transitional managers (BRG). This new phase focuses on a strategic merger with Noden Pharma (another SCP portfolio company), providing X.O with a commercial platform in Ireland and the United States. The goal remains to triple revenue within 3-4 years through aggressive portfolio acquisitions.

Unither Pharmaceuticals, a global leader in sterile single-unit dosage manufacturing, has undergone a capital reorganization led by its management team and a consortium of prominent investors. GIC and IK Partners have entered as new equity partners, while Keensight Capital and Parquest are reinvesting to reinforce their existing positions. The consortium is acquiring the majority stake from Ardian, following a successful five-year partnership.

Healthcare-focused investment firm Mérieux Equity Partners has completed the strategic merger of two of its existing portfolio companies, Addmedica and Laboratoires CTRS, creating a new consolidated entity named Theravia Pharma. As part of this corporate combination, the sponsor—which already held existing stakes in both businesses—elected to significantly increase its overall equity position. Mérieux EP rolled over its historical shares and convertible bonds while simultaneously acquiring additional equity, notably buying out the exiting founders of Addmedica

TPG Capital has signed a binding agreement to acquire a majority stake in DOC Generici from ICG and Mérieux Equity Partners. The strategic rationale for the transaction is driven by the continued expansion of the Italian generic drug market and DOC Generici's position as a reference brand for patients and healthcare providers. TPG intends to partner with the existing management team to accelerate the company’s leadership through significant investment in organic growth and external consolidation

A consortium of prominent financial sponsors, led by UI Investissement and supported by GENEO Capital Entrepreneur alongside historical partner Crédit Agricole Centre France, has successfully executed a growth equity investment in Neftys Pharma. The transaction is structured around a €30 million capital increase, injected directly into the company's balance sheet to fuel its ambitious expansion trajectory. Concurrently, the financial sponsors' equity injection is optimally paired with a newly secured, structured debt financing package exceeding €52 million, provided by the firm's historical banking syndicate

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

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

Fresenius Kabi agreed to acquire 100% of Ivenix, delivering on its "Expand MedTech" growth vector under its Vision 2026 strategy. The combination of Ivenix's leading hardware and software infusion platform with Fresenius Kabi's existing intravenous fluids and infusion device portfolio creates a comprehensive premium MedTech offering for the US market. Significant scale and growth synergies are expected from the transaction. The Ivenix Infusion System is expected to be neutral to Fresenius Kabi's Group cash earnings per share in 2025 and accretive from 2026 onwards

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