Water Street and JLL acquire Solvias

The GPs plan to support Solvias's international expansion and to broaden its areas of activity, according to a statement. The sponsors assisted with the recruitment of healthcare experts Michael J Lehmann and Mario L Rocci, who will join Solvias's board.

Water Street is currently deploying equity from its fourth fund, which held a final close in October 2017 on $860m and backs healthcare companies in North America and Europe. In February 2020, Water Street announced that it was to make an investment in Solvias. The deal was expected to close in Q2 2020, according to a statement.

JLL focuses on mid-market PE investments and is currently managing its seventh fund generation, according to its website. The firm generally takes majority stakes.

Company
Founded in 1999 and based in Basel, Solvias provides research, development and manufacturing services for companies in the biotechnology, medical devices, cosmetics and pharmaceutical sectors. Solvias also offers regulatory and quality-checking services, as well as chemical hazard monitoring. Its client base comprises 600 businesses and the company employs 550 people. Owler estimates its revenues to be €94.5m.

People
Solvias – Karen Huebscher (CEO).
Water Street Healthcare Partners – Peter Strothman (partner).

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