Riverside invests in Alter Pharma

Financial details of the transaction remain undisclosed, though Riverside is currently investing from its $312m fifth buyout fund, which invests in companies with an EBITDA in the €5-15m range.

Following the transaction, Alter will look to expand its range of products into new therapeutic fields. It will also look to increase its geographic footprint.

Belfius Bank, ING Belgium and NIBC Bank provided a debt package to support the transaction.

Company
Brussels-headquartered Alter is a pharmaceutical distribution group. It distributes EU-sourced pharmaceutical products to pharmacies and hospitals, as well as developing and reformulating generic pharmaceuticals using third-party manufacturers. Its products cover therapeutic areas including oncology, gastroenterology, pain, cardiology and neurology.

The group comprises the Neogen, Stasisport Pharmaceuticals, Steac Pharmaceuticals, Nordic Specialty Pharma, GSP, GPI and Milla Pharmaceuticals brands.

People
The Riverside Company – Karsten Langer (partner); Damien Gaudin (principal); Gaspard d’Avout d’Auerstaedt (associate).
Alter Pharma – Stijn Van Rompay (founder, CEO).

Advisers
Equity – Allen & Overy (legal); EY (corporate finance); IQVIA (commercial due diligence); Alix Partners (commercial due diligence); NDA Group (commercial due diligence).
Company – Jefferies International (corporate finance); Eubelius (legal).

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• Topics
• Buyouts
• Benelux
• Healthcare
• Belgium
• Riverside
• Allen & Overy
• EY (Ernst & Young)