SK Capital has signed an agreement to sell IBA Molecular to CapVest Partners. SK Capital Partners acquired a 60% interest in IBA Molecular from Ion Beam Applications in April 2012. The transaction is expected to close at the end of Q1 2016.
IBA Molecular is a developer, manufacturer and distributor of radiopharmaceutical products that are used in positron emission tomography (PET) and single-photon emission computed tomography (SPECT) molecular imaging procedures. The company also provides support services used in molecular imaging. IBA Molecular is headquartered in Louvain-La-Neuve, Belgium and has over 50 locations in the US, Europe and Asia and employs over 1,000 people (www.iba-molecular.com).
Nuclear medicine uses very small amounts of radioactive materials (radiopharmaceuticals) to diagnose and treat disease. In imaging, the radiopharmaceuticals are detected by special types of cameras that work with computers to provide very precise pictures about the area of the body being imaged. In treatment, the radiopharmaceuticals go directly to the organ being treated. The amount of radiation in a typical nuclear imaging procedure is comparable with that received during a diagnostic x-ray, and the amount received in a typical treatment procedure is kept within safe limits.
“We are proud of what has been accomplished by IBA Molecular under our ownership and believe that the business has significant growth ahead under the continued leadership of Renaud Dehareng and his team,” said Jamshid Keynejad, Chairman of IBA Molecular and a Founding Partner of SK Capital. “We are confident that CapVest will be a strong partner for the company as it moves into the next stage of its development.”
CapVest is a European mid-market private equity firm. CapVest was founded in 1999 and is headquartered in London (www.capvest.co.uk).
SK Capital specializes in the specialty materials, chemicals and healthcare sectors and typically invests equity of $100 million to $200 million in each portfolio company. SK Capital’s portfolio companies generate revenues of approximately $8 billion annually and employ approximately 9,000 people. The firm currently manages more than $1.5 billion of committed capital and is based in New York (www.skcapitalpartners.com).
© 2015 PEPD • Private Equity’s Leading News Magazine • 12-14-15