Capiton explores single-asset restructuring for KD Pharma

The transaction has already attracted interest from buyers and is expected to close at the end of July. Managing partner Manuel Hertweck said of the transaction: "The reason we are doing this transaction is to secure both additional time and follow-on capital for a great portfolio company. Thus, I expect we will hold the company for a few more years." The transaction will see the company bought by a separate vehicle rather than one of Capiton's funds.

Unquote understands Park Hill Group is advising on the process.

KD Pharma is part of Capiton IV, a €350m vehicle that closed in 2009. Of Capiton IV's nine portfolio companies, six have been exited, with a seventh expected to be sold imminently and the eighth in preparations for an exit.

The company produces purified Omega-3 fatty acids for food supplements and pharmaceuticals and is based in Bexbach.

Capiton has also begun fundraising for its sixth generation vehicle. Capiton VI's target is €550m, with a hard-cap of €625m.

At the time of publication, Park Hill had not responded to a request for comment.

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