Weinberg's Pharma Omnium sells Biodim subsidiary

Francesca Veronesi
04 July 2018

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France-based Pharma Omnium International, a portfolio company of Weinberg Capital Partners (WCP), has sold its subsidiary Laboratoire Biodim to pharmaceutical business NuPharm, backed by Apax Partners.

Biodim was marketed based on EBITDA of €18m and valued at €130-140m, according to Unquote sister publication Mergermarket.

The vendor, Omnium, is a pharmaceutical company that markets mature drugs in various therapeutic classes. Founded in 2005 and based in Paris, the company provides nutraceutical, dermatological, and dermo-esthetic products.

The buyer of Biodim, NuPharm, has been owned by British sponsor Apax Partners since 2016. That year the GP bought Spanish business Invent Farma as well as Germany-headquartered Neuraxpharm, subsequently merging the two and rebranding the group as NuPharm.

NuPharm today consists of five speciality pharmaceutical companies: Neuraxpharm (Germany and Poland), Qualigen (Spain), FB Health (Italy), Laboratorios Lesvi (Spain), and Inke (Spain). NuPharm develops and markets branded, generic and nutraceutical pharmaceutical products, offering central nervous system treatment options to healthcare professionals and industry partners. The group is present in 50 countries.

Previous funding
Omnium was WCP's first investment in 2006. The newly established GP bought a 70% stake in Pharma Omnium, with the company's founders retaining the balance.

As part of the investment, the equity house provided a leveraged working capital facility to allow the company to acquire Biodim laboratories, a pharmaceutical company with a 2005 turnover of €43.7m. IKB provided A- and B-tranches of senior debt (60% of total investment value), while Babson Capital underwrote the mezzanine financing (20% of total investment value).

Omnium subsequently bolted-on Upharm laboratory in 2007 and Mutabilis in 2009.

Company
Biodim is a Paris-based laboratory that produces benzodiazepine drugs Temesta (Lorazepam) and Seresta (Oxazepam), among others. The business generates a turnover of around €32m

People
Weinberg Capital Partners – Benjamin Rousseau-Calisti (director).
NuPharm – Stephan Walz (CEO).