Novacap has completed the carve-out of Rhodia’s salicylic and acetaminophen businesses, with the support of its majority shareholder AXA Private Equity.
These activities will become Novacyl, a newly created company within Novacap. Novacyl generates revenues of EUR100 million per year and employs approximately 360 people, with production sites located in France, Thailand, China and Brazil.
Novacyl is the global leader in aspirin and salicylic acid, a key supplier of acetaminophen and methyl salicylate – these products are used mainly in pharmaceuticals (analgesics) as well as in cosmetics and flavours and fragrance applications. Novacyl’s leading technology, supported by its unique regulatory expertise, is unanimously recognized by leaders in the pharmaceutical industry.
This acquisition is a significant step in Novacap’s development strategy, which is oriented towards more resilient and growing end-markets. It will also accelerate the internationalisation of the group, especially in Asia and The Americas.
“This transaction represents a great opportunity for Novacyl, as a result of Novacap’s willingness to accelerate its development. Our people share the same entrepreneurial spirit, customer focus and rigorous industrial approach”, says Joël Polo, General Manager of Novacyl.
“Novacyl has a remarkable product line, strong manufacturing capabilities and global market access”, says Pierre Luzeau, CEO of Novacap. “We are willing to further expand Novacyl’s Active Pharmaceutical Ingredients (APIs) portfolio, in line with the group’s strategy to grow in pharmaceutical markets”.
“This acquisition is another example of how AXA Private Equity supports its portfolio companies in ambitious and transformational projects. Our teams have worked closely together to ensure the best outcome for Novacap and Novacap’s expertise in complex carve-outs was key for the completion of this transaction”, says Thibault Basquin (pictured), Director at AXA Private Equity.
