Platinum Equity has acquired a controlling stake in Inventia Healthcare Limited’s core Oral Solid Dosage (OSD) business (Inventia) from India Life Sciences Fund III, NYLIM Jacob Ballas India Fund III, and affiliates of the company’s founding Shah family.
Invengene and Nutriventia, the injectables and nutraceuticals businesses, respectively, are not part of the transaction and are being retained separately by the Shah family, which is also retaining a minority stake in Inventia.
Financial terms of the acquisition have not been disclosed.
Headquartered in Mumbai, Inventia was jointly founded in 1985 by the company’s late chairman and managing director Janak Shah and executive director Maya Shah. Today, Inventia serves as a partner to over 100 customers supplying both semi-finished and finished OSD formulations for both regular and value-added generics. Inventia’s partners include global and leading local pharmaceuticals companies that sell in more than 40 countries across North America, South America, Europe, Southeast Asia, Middle East and Africa.
Inventia operates a manufacturing facility in Ambernath and a research and development facility in Thane in Maharashtra, India. The company’s manufacturing platform is accredited by the US FDA, UK MHRA and other Stringent Regulatory Authorities (SRA).
The acquisition is being led by Platinum Equity’s Asia investment team based in Singapore.
Barclays served as exclusive financial advisor to Platinum Equity on the transaction. Latham Watkins served as international legal counsel alongside Trilegal as India legal counsel for Platinum Equity. Kirkland & Ellis provided financing counsel to Platinum Equity on the transaction. Rothschild & Co and Stifel Nicolaus India (erstwhile Torreya Partners) served as financial advisors to the Sellers. Quillon Partners served as legal counsel to the Sellers on the transaction.
