Aterian Investment Partners has closed its April-announced acquisition of Contract Pharmaceuticals Limited (CPL), a contract development and manufacturing organization (CDMO) specializing in non-sterile liquid and semi-solid dosage forms.
CPL’s services include development, manufacturing, packaging, and testing of non-sterile liquid and semi-solid pharmaceutical prescription and regulated over-the-counter products. The company’s semi-solid products include suspensions, solutions, and nasal and topical sprays; and its semi-solid products include lotions, creams, ointments, and gels.
CPL has longstanding relationships with 15 of the top 20 global pharmaceutical companies across North America, the European Union, Japan, Australia, Mexico, Brazil and the Middle East. The company, led by CEO Jan Sahai, was founded in 1991 and today has more than 325 employees at its headquarters facility – which includes FDA and Health Canada-registered analytical labs, manufacturing suites, and warehouses – located near Toronto in Mississauga, Ontario.
“With Aterian’s backing, we are laser focused on innovation, growth and delighting our customers to further expand our unmatched position in the non-sterile liquid and topical drug products space,” said Mr. Sahai. “This collaboration undoubtedly strengthens our positioning in serving our customers and being the trusted partner to pharmaceutical companies around the world.”
Aterian invests from $30 million to $150 million in middle market businesses with $50 million to $750 million in revenue and $10 million to $60 million in EBITDA. The firm’s latest fund, Aterian Investment Partners IV LP, began investing in April 2023 with $830 million of committed capital. Aterian has offices in New York City and Coral Gables, Florida.
“CPL represents Aterian’s thirteenth investment in the life sciences, personal care and nutrition segments,” said Jay Taunk, a principal at Aterian. “We are thrilled to support CPL and look forward to working with the management team to continue the company’s growth trajectory.”
“We are excited to have successfully closed this transaction,” said Aterian in a released statement. “With Aterian’s investment in people, technology and processes, CPL is equipped and ready to enter its next phase of growth and to drive industry transformation by providing further value to customers.”
Philadelphia-based SSG Capital Advisors was the financial advisor to CPL on this transaction.
© 2024 Private Equity Professional | June 6, 2024
