RoundTable Healthcare Partners’ portfolio company Renaissance Pharma has acquired Confab Laboratories.
Confab is a contract pharmaceutical manufacturer in Montreal, Quebec.
"Renaissance is excited by the opportunity to further invest in the continued growth and success of Confab," says Pierre Frechette, president and chief executive of Renaissance. "As part of Renaissance, we are committed to supporting Confab’s mandate as a unique, fully-integrated pharmaceutical contract manufacturer."
"RoundTable and Renaissance are ideal partners for Confab," says Guy Lamarre, founder and former chief executive of Confab. "Their collective industry experience will be instrumental in building on existing partnerships with current customers and developing strong relationships with new ones."
Lamarre will remain active in future development of the business as vice chairman of Renaissance. Nathalie Brisson has been promoted to the position of president and general manager of Confab and will assume leadership of the day-to-day business operations along with the other members of the existing management team.
"RoundTable is pleased to be working with Renaissance and Confab on this new venture," says James E. Utts, Jr., an operating partner at RoundTable and the chairman of the board of Renaissance. "We remain enthusiastic about opportunities in the pharmaceutical market and are excited to move forward in support of the Confab team."
To finance the acquisition of Confab and further growth opportunities, RoundTable facilitated the completion of new senior credit facilities and a private placement of senior subordinated notes. The senior credit facilities were led by GE Commercial Finance Healthcare Financial Services.
Confab’s senior subordinated notes were acquired by RoundTable Capital Partners II, RoundTable’s second captive subordinated debt fund. Capital Fund II is a dedicated subordinated debt fund that makes fixed rate subordinated debt investments alongside the equity investments of RoundTable’s equity funds.
