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Advent International to acquire controlling stake in RA Chem Pharma from Micro Labs

The transaction is Advent’s sixth investment in the healthcare sector and seventh investment in India over the past twelve months

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Advent International (Advent) has signed a definitive agreement to acquire a controlling stake in RA Chem Pharma, a company from Micro Labs.

RA Chem Pharma’s core focus is active pharma ingredients (APIs), but over time it has also forward integrated into pellets, formulations and clinical research. Its product portfolio ranges from pharma products to niche areas of animal health and cosmeceuticals.  The company has four manufacturing units, two R&D laboratories and a clinical research facility.

Advent has committed over $1.7 billion globally in six companies across the healthcare sector in the last 12 months.

“We continue to be excited about India’s pharma landscape and investing in RA Chem Pharma will further strengthen our presence in the sector. We aim to build one of the leading API platforms in India and will leverage our financial and operational resources globally to scale RA Chem Pharma both organically and inorganically,” said Shweta Jalan, MD and Head of India at Advent International, India.

“We are very pleased with this transaction and are excited to partner with Advent. We strongly believe that this transaction will further build upon RA Chem’s strengths to continue its journey to deliver high quality, niche and specialised products to its customers globally,” said Dilip Surana, Chairman and MD, Micro Labs

Reportedly, Advent International has invested or committed over $9 billion in 48 companies in the healthcare sector, including 20 businesses involved in pharma R&D, production and distribution. Recent pharma transactions include Bharat Serums and Vaccines (biopharma), Zentiva’s acquisition of Alvogen’s Central and Eastern European generics business, BioDuro (contract R&D), Industria Chimica Emiliana (pharma ingredient production), Somar (generic pharma products), Syneos Health (clinical development and commercialisation services) and Zentiva (generic pharma products).

Nomura acted as the sole financial advisor to Micro Labs for the transaction.

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