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Arsenal exits healthcare packaging firm

Arsenal Capital Partners has sold Airnov Healthcare Packaging, a producer of consumables used to protect healthcare products from moisture and oxygen, to Colorcon, Inc. Financial terms of the transaction have not been disclosed.

Arsenal Capital Partners (Arsenal) has sold Airnov Healthcare Packaging (Airnov), a producer of consumables used to protect healthcare products from moisture and oxygen, to Colorcon, Inc (Colorcon). Financial terms of the transaction have not been disclosed.

Airnov sells a broad portfolio of customised products, including canisters and packets, integrated desiccant systems and specially designed plastic bottles containing oxygen barrier materials. Airnov has global operations with manufacturing facilities in the United States, France, China, and India. The company employs approximately 700 people globally.

William Blair & Company LLC acted as financial advisor to Airnov and Kirkland & Ellis LLP served as legal counsel. Dechert LLP served as legal counsel to Colorcon with respect to the transaction.

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