Advent-backed Zentiva acquires Alvogen

The company financed the transaction using €470m of first lien secured debt, which will be syndicated in due course, and a €70m second lien secured loan, Unquote understands.

The transaction is expected to close in the first quarter of 2020, subject to customary approvals.

Advent acquired Czech pharma business Zentiva in April 2018 in a deal that valued the company at €1.9bn, according to Unquote Data. The company is a GPE VIII asset.

Zentiva expects to extend its geographical footprint with Alvogen's portfolio.

Company
Founded in 2009 and headquartered in New Jersey, Alvogen is a global pharmaceutical company focused on developing, manufacturing and selling generic and branded over-the-counter products.

With a commercial footprint in 35 markets, Alvogen's key regions include the US, and emerging markets in the CEE and Asia-Pacific regions. The company generates revenues of around $1.1bn and employs 2,800 staff.

People
Advent International – Tom Allen (co-head of European healthcare); Cédric Chateau (managing director).

Advisers
Equity – CMS, Helen Rodwell (legal).

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