RoundTable Healthcare Partners has sold the topical pharmaceutical business of its portfolio company Renaissance Acquisition Holdings to pharmaceutical company Mylan NV for $950 million in cash at closing plus up to an additional $50 million in contingent payments.
The topical division of Renaissance develops, manufactures, markets and sells branded and generic topical pharmaceutical products. RoundTable founded Renaissance in 2010 when it acquired two contract manufacturing and development companies – Confab Laboratories based in Montreal, and DPT Laboratories based in San Antonio. Renaissance will continue to own and operate its sterile-focused specialty pharmaceutical business with development and manufacturing facilities in Lakewood, NJ (www.dptlabs.com) (www.confab.com).
“On behalf of RoundTable, I would like to thank the outstanding management team and dedicated employees of Renaissance for creating a leading specialty pharmaceutical company,” said Pierre Frechette, Senior Operating Partner at RoundTable and the Chairman of the Board of Renaissance. “We believe Mylan is an excellent strategic partner for this business, its employees and customers going forward.”
RoundTable Healthcare Partners is an operating-oriented private equity firm focused exclusively on the healthcare industry. RoundTable has raised $2.75 billion in committed capital, including four equity funds totaling $2.15 billion and three subordinated debt funds totaling $600 million. The firm was founded in 2001 and is headquartered north of Chicago in Lake Forest, IL (www.roundtablehp.com).
Mylan (NASDAQ:MYL) is a generic and specialty pharmaceuticals company headquartered north of London in Hatfield, UK (www.mylan.com).
© 2016 Private Equity Professional • Private Equity’s Leading News Magazine • 5-17-16