Ancor Capital Partners, a Dallas private equity firm, has sold WellSpring Pharma Services to ANI Pharmaceuticals.
Terms of the sale, which was finalised on 6 August, have not been disclosed.
WellSpring Pharma Services provides pharmaceutical manufacturing services for virtually all non-sterile finished dosage form products, including solids, semisolids, and oral liquids and suspensions, as well as primary and secondary packaging in a variety of presentations.
When Ancor, along with co-investor Sentinel Capital Partners, acquired the WellSpring business in 2011, it consisted of three separate business operations – prescription drugs, consumer health care and over-the-counter products, and contract manufacturing of pharmaceutical products. Ancor sold the prescription drug business in 2014 and the consumer health care division in 2017. This transaction represents the sale of the contract manufacturing operation, the final WellSpring business segment.
“We are extremely pleased with our WellSpring business investment,” says Randall Keene, a founding partner at Ancor. “On our watch, the operation was able to advance its position as a market leader and has emerged into a powerful platform poised for continued and sustainable growth.”
“Along with our outstanding partners on this deal, Sentinel, and the leadership of WellSpring CEO Wendy Shusko, we have been able to achieve a number of key strategic initiatives over the course of this investment. I am confident the company’s talented management team and state-of-the-art facilities will continue to drive them toward new opportunities in the industry.”
