Keensight carves out 3P Biopharmaceuticals

Keensight will invest in 3P's production capacity, broadening its service offering, and support recruitment efforts. Sodena, a local investment company, will remain a minority shareholder of the company.

Spain-based Infarco, the former parent company of 3P, invested €6m to increase its stake in the business to 51% in 2014. At the time, Infarco was looking to consolidate its presence in Europe and the US.

The deal was sourced via an auction process, which a source close to the situation described as "limited".

Keensight Capital V, which was closed in Q1 2019 on €1bn, was used for the transaction, Unquote understands. 

Company
3P is a CDMO specialised in manufacturing biologics through mammalian, microbial and yeast expression systems.

Founded in 2006 and based in Noáin, 3P offers its biologics production service from pre-clinical and clinical stages all the way to full-scale commercial manufacturing.

It is understood that the business generates a turnover of €20-30m and employs around 240 people. It has customers located in Europe, North America, Australia and Asia. The company has experienced a 23% annual revenue growth over the past four years, according to a statement by Keensight.

People
3P Biopharmaceuticals – Dámaso Molero (general manager)
Keensight Capital – Pierre Rémy (managing partner). 

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