SK Capital, a private investment firm focused on the specialty materials, chemicals and pharmaceuticals sectors, has completed its previously announced acquisition of Perrigo Company’s active pharmaceutical ingredients (API) business, which has been renamed from Perrigo API to Wavelength Pharmaceuticals (Wavelength).
Wavelength is a leading developer and manufacturer of generic APIs and finished dose forms (FDF) with primary operations located in Israel and supporting functions in the US and India. The Business supports a global, blue-chip customer base with a broad array of products that leverage its specialised manufacturing capabilities (including cytotoxic, steroid and high potency) and core competency in complex chemistries. The new name, Wavelength Pharmaceuticals, is intended to convey the standalone organisation’s prioritisation of customer alignment and solutions-based partnership. This renewed focus builds upon Wavelength’s uncompromising commitment to the highest quality and reliability standards, exemplary compliance track record and differentiated capabilities to drive the Business’s next stage of growth and profitability. To implement this strategic realignment, the Business’ leadership team will be actively supported by Wavelength’s highly-experienced, pharmaceutical industry veteran board members – Itzhak Krinsky, Meron Mann, Iftach Seri and Arik Yaari.
Iftach Seri, commenting on the future direction of the Business, says: “We are excited to drive progress and growth through further investments in people, culture, processes and technology. The leadership team has already begun executing its plans to transform Wavelength into an industry leader, building upon the strong foundations of the legacy business.”
Aaron Davenport, a Managing Director of SK Capital, adds: “We are confident that the Business’s experienced management team, along with the support of our Board, are well-positioned to unlock the tremendous potential of Wavelength. We believe that Wavelength represents a strong platform for further add-on and transformational acquisitions and are already actively pursuing several opportunities. We look forward to growing and improving the Business alongside management in the years to come.”
