Med Opportunity Partners has acquired Ferro Pfanstiehl Laboratories from Ferro Corporation. Upon closing of the transaction, Ferro Pfanstiehl Laboratories has been renamed Pfanstiehl, Inc.
Pfanstiehl is a provider of specialized products and services for niche pharmaceutical and biotechnological applications. The company was founded in 1919 and has approximately 80 employees. Pfanstiehl is based in Waukegan, IL (www.pfanstiehl.com).
“We are pleased to be backed by Med Opportunity Partners as we enter a very exciting stage of our company’s history with an unprecedented opportunity for growth in the biopharmaceutical and pharmaceutical market place. Our ability to deliver quality, high purity excipients and APIs including cytotoxics to our customers should be enhanced by Med Opportunity Partners and their strategic operating approach and financial resources,” said Cindy Kerker, President of Pfanstiehl.
Med Opportunity Partners invests in middle market healthcare companies with $20 million to $200 million of enterprise value. Sectors of interest include pharmaceuticals, medical devices, biologics, medical technology, and specialty health care services. The firm is based in Greenwich, CT (www.medopportunity.com).
“We are excited to invest in Pfanstiehl at this time,” said Jim Breckenridge, Med Opportunity Partners Founding Member and new Pfanstiehl Chairman. “The US global biopharmaceutical market is expected to exceed $100 billion by 2015 and requires high purity functional excipients to meet increasing quality, regulatory and service requirements. Pfanstiehl is well positioned to be a major beneficiary of this overall shift toward high purity CGMP excipients utilized in biopharmaceutical formulation and manufacturing processes. We plan to invest in Pfanstiehl to expand the company’s participation in these compelling sectors.” (Editor’s Note: Current Good Manufacturing Practices (CGMP) are followed by pharmaceutical and biotech firms to ensure that the products meet specific requirements for identity, strength, quality, and purity).
Ferro Corporation is a supplier of technology-based performance materials and chemicals for manufacturers. Ferro products are sold into the building and construction, automotive, appliances, electronics, household furnishings, and industrial products markets. Headquartered in Mayfield Heights, OH, the company has approximately 4,780 employees globally and reported 2012 sales of $1.8 billion (www.ferro.com).
© 2013 PEPD • Private Equity’s Leading News Magazine • 4-2-13