GHO Capital acquires early stage Biopharma drug developer Ardena
GHO Capital Partners, a European specialist investor in healthcare, together with the existing management team has acquired Ardena from Mentha Capital.
Ardena, a specialist contract development and manufacturing organization focused on early phase drug development, is a multi-service CDMO, assisting small-to-mid sized biopharma with services spanning the full development life cycle.
Headquartered in Belgium, the company operates across several sites in the Netherlands, Sweden and Latvia. Ardena offers a comprehensive ‘Make, Analyse, File’ model from drug substance and drug product manufacturing and bioanalytical services through to regulatory dossier development.
“With their deep expertise in the Pharma sector, we are excited now to partner with GHO as we continue our international growth. Ardena and GHO are fully committed to the science-led approach that delivers valuable solutions for our biopharma customers globally,” said Harry Christiaens, CEO of Ardena.
With a strong reputation for quality and a flexible service delivery model, Ardena caters to a highly diversified base of over 300 customers throughout Europe, the US, Japan and Korea. A high science approach and broad drug development toolkit differentiate Ardena from peers as a comprehensive multi-service pan-European platform.
Global Healthcare Opportunities, or GHO Capital Partners LLP, is a specialist healthcare investment advisor based in London. “We are delighted to have the opportunity to work with the Ardena team. Operating within a highly fragmented market, Ardena is the market leading platform from which to build a fully integrated early stage CDMO, serving Biopharma clients globally,” commented the partners at GHO Capital.
With extensive sectoral expertise and network in the global biopharma industry, the GHO team will support management in accelerating Ardena’s plan to enable customers to take a molecule from ‘target to clinic’ with a single outsourced drug development service provider.
“Ardena has grown from a Ghent-based business to become a leading early-stage, multi-service CDMO in Western Europe,” said Gijs Botman, Partner of Mentha Capital.
“After successfully completing and integrating four acquisitions, the company is now ready for a new growth phase. We had a fantastic journey with the Ardena team, and we are confident that GHO Capital is the right partner to support their ambitions going forward,” he added.
GHO plans to further strengthen Ardena’s broad service proposition through organic and inorganic opportunities, adding to both the company’s offering and international footprint.
GHO recently announced the close of their second specialist healthcare private equity fund at its hard cap of €975m and last year completed investments in Sterling Pharma and BioAgilytix as well as exits from Quotient Sciences and Caprion Biosciences.
The following advisors assisted GHO with the acquisition of Ardena: Alvarez & Marsal, Deloitte, Sidley Austin LLP, Loyens & Loeff N.V, CIL Management Consultants, E&Y’s Life Sciences Corporate Finance Team, Matrix Global Services Limited, AON, ERM and Saola Healthcare Partners.