Pantheon to invest in KD Pharma in single-asset restructuring

Katharine Hidalgo
18 October 2019

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Pantheon Ventures has agreed to acquire a stake of 25-50% in KD Pharma in a single-asset restructuring led by Capiton.

Pantheon is currently investing from Pantheon Global Secondary Fund V, which closed on $3.5bn in 2016 and was 67% deployed as of April 2019. The firm is currently fundraising for its Pantheon Global Secondary Fund VI, which has a target of $2bn.

Managing partner Manuel Hertweck said: "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 asset has been transferred to a holding company called O³ Holding.

KD Pharma was previously part of Capiton IV, a €350m vehicle that closed in 2009.

Previous funding
In 2013, Capiton acquired 85% of the company alongside management. The previous owner, Bioseutica Group, retained 15% of the company.

Company
Based in Bexbach, the company was founded in 1988. KD Pharma Group is an Omega-3 producer with 400 employees and seven sites located in the UK, Norway, Germany and the US.

People
Capiton – Manuel Hertweck (managing partner).

Advisers
Equity – Park Hill (corporate finance).