Riverside carves out HealthTech BioActives from Ferrer

The deal includes three manufacturing facilities which employ around 140 staff: a plant located in Beniel, in the Murcia region, which is dedicated to the production of bioflavonoids and natural flavours; a plant based in Sant Quirze, near Barcelona, which specialises in animal nutrition products; and a plant located in the Sant Cugat, which produces vitamin B12 derivatives.

The GP is currently deploying capital from Riverside Europe Fund VI, which was launched in April 2019 with a €600m target and a €750m hard-cap and has collected €314m so far.

In addition, debt financing was provided by LGT Private Debt.

Riverside intends to strengthen the company's market position and enlarge its customer base as well as broaden its offering and accelerate its product development. 

This Ferrer's disinvestment follows the sale of its generics and immunotherapy divisions and represents another step in the group's strategy of focusing on its core business dedicated to the research, manufacturing and commercialisation of branded pharmaceutical products.

Company
HealthTech BioActives specialises in the production of active pharmaceutical ingredients (APIs), excipients, flavouring and sweeteners for the pharmaceutical, food and cosmetic industries. The company sells its products in 90 countries worldwide and generates revenues of €51m.

People
The Riverside Company – Rafael Alvarez-Novoa (partner); Damien Gaudin (principal).
Ferrer – Mario Rovirosa (CEO).

Advisers
Equity – KPMG (financial due diligence); Garrigues (legal); Parmentier Advocaten (tax); Allen & Overy (legal); Dextra Corporate (corporate finance); Roland Berger (commercial due diligence).
Vendor – Deloitte (legal, tax, financial due diligence).

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• Topics
• Buyouts
• Southern Europe
• Healthcare
• Riverside
• Spain
• Deloitte
• KPMG
• Allen & Overy
• Roland Berger & Partners
• LGT Capital Partners