Geritrex, a portfolio company of BelHealth Investment Partners since July 2015, has acquired Unipack.
Unipack is a private label manufacturer and distributor of over-the-counter pharmaceuticals. Unipack’s primary products, sold through large retail chains, include suppositories as well as topical ointments and creams. Unipack was founded in 1981 by brothers Harilal and Dinesh Patel and is headquartered in Pittsburgh, PA.
Geritrex is a manufacturer and distributor of topical generic over-the-counter products and pharmaceuticals to patients in institutional healthcare settings as well as to consumers through traditional retail channels. The company’s core product categories include dermatological, analgesic, digestive and cough/cold products across various dosage forms including creams and ointments, liquids, powders and suppositories. Geritrex was founded in 1978 and is headquartered in Middletown, NY (www.geritrex.com).
“Unipack complements Geritrex’s existing business and we are excited to expand both our product offering and customer base with a significant share in the private label retail market across a number of products,” said Tim Sawyer, CEO and Executive Chairman of Geritrex. “Furthermore, Unipack adds a number of new product lines to our portfolio, including an attractive portfolio of suppository products. We are excited about the cross-selling opportunities and the overall growth potential of the combined business.”
“We have been focused on both organic and acquisitive strategies to expand Geritrex’s product capabilities and categories and are pleased to be expanding into the suppository market through the acquisition of Unipack,” said Nathan Kronforst, a Managing Director of BelHealth. “Following this acquisition, Geritrex has a diversified mix of products across multiple niche dosage forms including topicals, liquids, powders and suppositories. This set of manufacturing capabilities positions Geritrex as a versatile supplier and partner to customers across both the retail and institutional channels.”
BelHealth invests from $20 million to $50 million in companies in three healthcare segments: services, products, and distribution. The firm is currently investing out of its second fund which closed in June 2015 at the hard cap of $350 million. Fund I was raised in 2012 with $150 million of committed capital. BelHealth is headquartered in New York (www.belhealth.com).
© 2018 Private Equity Professional | October 29, 2018