Bain Capital has joined Kohlberg & Co in a co-led investment in PCI Pharma Services, valuing the pharmaceutical services provider at approximately $10bn including debt, according to a report by Bloomberg citing a statement released Monday.
The deal, which confirms earlier reporting from Bloomberg, will also see existing shareholders Mubadala Investment Company and Partners Group reinvest alongside the new capital structure. Financial terms were not officially disclosed.
PCI specialises in sterile fill-finish, secondary packaging, and supply chain solutions for pharmaceutical and biotech clients. The firm has seen rapid growth in demand for its services, particularly in the assembly and packaging of pre-filled syringes used in GLP-1 weight-loss therapies such as Wegovy.
Kohlberg originally acquired a majority stake in PCI from Partners Group in 2020, with Mubadala joining the deal as a significant minority investor. The latest transaction reflects ongoing investor appetite for scaled pharma services platforms supporting complex drug delivery and cold-chain logistics.
Advisors on the deal include Jefferies and Moelis for PCI, Morgan Stanley and Bank of America for Bain, and Citigroup for Mubadala.
