BC portfolio company Pharmathen sells Greek operations

[Editor's note: BC Partners is the majority owner of Acuris, the parent company of unquote"]

Pharmathen will retain its name, while the sold operations will be subsequently rebranded. The local management team will remain in Greece.

Greek private investors Pericles and Petros Vassilopoulo led the investor consortium.

Once the transaction closes, the company's new headquarters will be in Amsterdam. It will focus on the development and out-licensing of pharmaceuticals to international markets. This will enable it to market products in the US for the first time.

Previous funding
The firm was acquired by BC Partners in June 2015 from its family owners. The deal gave the company an enterprise value of around €500m, according to unquote" data.

As part of the transaction, Pharmathen's founders retained a minority stake in the business, with BC Partners picking up around 80% of the company's shares. 

The GP's capital was drawn from its ninth vehicle, a 2010-vintage fund that held its final close on its hard-cap of €6.5bn in February 2012.

Company
Founded in 1969 by pharmacist Nikolaos Katsos and headquartered in Athens, Pharmathen is a pharmaceutical company that develops, produces and out-licenses generic pharmaceuticals.

Pharmathen posted a turnover of €160m and EBITDA of €50m in 2016, excluding its Greek operations. It has 265 customers in 85 countries.

People
BC Partners – Nikos Stathopoulos (managing partner).

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