Grand River Aseptic Manufacturing, a provider of sterile parenteral solutions, has been acquired by Arlington Capital Partners.
Grand River Aseptic Manufacturing (GRAM) is a contract manufacturer of parenteral solutions – fluids that provide a patient with drugs or nutrients such as protein, sugar, vitamins, and minerals. The company’s services span from development through commercialization and include the contract manufacturing of both biologics and controlled substances.
GRAM was founded in 2010 as a joint venture between the Van Andel Institute (a biomedical research and science education organization) and Grand Valley State University. The company has approximately 160 employees and nearly 40,000 square feet of cGMP compliant production space (cGMP refers to the Current Good Manufacturing Practice regulations enforced by the US Food and Drug Administration) in two locations near downtown Grand Rapids, MI (www.grandriverasepticmfg.com).
“With the healthcare network, strategic vision and capital that Arlington brings to GRAM, we look forward to expanding our offerings and capacity and continuing to invest in best-in-class technology,” said Tom Ross, CEO of GRAM. “Arlington has a strong track record of investing in pharmaceutical services and shares our vision for expanding GRAM’s capacity and capabilities with a focus on putting quality first.”
Arlington invests in buyouts and recapitalizations of companies valued from $50 million to $500 million. Sectors of interest include government services and technology; aerospace and defense; healthcare; and business services and software. The firm is investing out of its fourth fund which closed in July 2016 with $700 million of capital. Arlington is based in Chevy Chase, MD (www.arlingtoncap.com).
“GRAM’s broad manufacturing experience and exemplary quality record provide an ideal platform from which to pursue the numerous growth initiatives we have collectively identified within the large and growing aseptic manufacturing market,” said Matt Altman, a Managing Partner at Arlington. “Our investment in GRAM continues Arlington’s history of building differentiated pharma services providers in partnership with leading management teams.”
Fairmount Partners (www.fairmountpartners.com), an investment bank based near Philadelphia in West Conshohocken, PA, was the financial advisor to GRAM. Fairmount has a specialization in the pharmaceutical industry and the buy of GRAM by Arlington is the firm’s 123rd completed pharmaceutical transaction and the 7th pharma deal closed in 2017.
© 2017 Private Equity Professional | November 15, 2017
