M&A Deal Summary

Catalent Acquires Paragon Bioservices

On April 15, 2019, Catalent acquired life science company Paragon Bioservices from Camden Partners and NewSpring Capital for 1.2B USD

Acquisition Highlights
  • This is Catalent’s 4th transaction in the Life Science sector.
  • This is Catalent’s largest (disclosed) transaction.
  • This is Catalent’s 6th transaction in the United States.
  • This is Catalent’s 1st transaction in Maryland.

M&A Deal Summary

Date 2019-04-15
Target Paragon Bioservices
Sector Life Science
Buyer(s) Catalent
Sellers(s) Camden Partners
NewSpring Capital
Deal Type Add-on Acquisition
Deal Value 1.2B USD
Advisor(s) William Blair & Co. LLC (Financial)
Kirkland & Ellis LLP
Gordon Feinblatt LLC (Legal)

Target

Paragon Bioservices

Baltimore, Maryland, United States
website
Paragon Bioservices, Inc. is a contract development and manufacturing organization (CDMO) whose focus is the development and manufacturing of cutting-edge biopharmaceuticals. Paragon aims to build strong client partnerships with the world’s best biotech and pharma companies, focusing on transformative technologies, including gene therapies (AAV), next-generation vaccines, oncology immunotherapies (oncolytic viruses), and other complex biologics. Paragon Bioservices, Inc. was founded in 1990 and is based in Baltimore, Maryland.

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Buyer(S) 1

Buyer

Catalent

Somerset, New Jersey, United States

website


Category Company
Founded 2007
Sector Life Science
Employees17,300
Revenue 4.0B USD (2021)
DESCRIPTION

Catalent is a provider of solutions for drugs, biologics and consumer health products. Among its core offerings, it develops and manufactures oral and sterile medication in nearly all dosage forms, holds patents for softgel (e.g. “Liqui-Caps” and “Vegicaps”) and Zydis fast-dissolve technologies used in many popular prescription and over-the-counter medicine. Catalent was founded in 2007 and is based in Somerset, New Jersey.


DEAL STATS #
Overall 8 of 16
Sector (Life Science) 4 of 10
Type (Add-on Acquisition) 8 of 10
State (Maryland) 1 of 1
Country (United States) 6 of 9
Year (2019) 1 of 2
Size (of disclosed) 1 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-07-03 Juniper Pharmaceuticals

Boston, Massachusetts, United States

Juniper Pharmaceuticals, Inc. is a specialty pharmaceutical company focused on developing therapeutics that address unmet medical needs in women’s health. Juniper Pharmaceuticals was founded in 1986 and is based in Boston, Massachusetts.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-06-19 Bristol-Myers Squibb - Anagni Manufacturing Facility

Anagni, Italy

Bristol-Myers Squibb Co. - Anagni Manufacturing Facility is a provider of oral solid, biologics, and sterile product manufacturing and packaging facility.

Buy -

Seller(S) 2

SELLER

Camden Partners

Baltimore, Maryland, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1995
PE ASSETS 700M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Camden Partners is a private investment firm that specializes in direct company investments, investments in third-party funds, and investments in public small-cap companies. Camden's direct private equity practice targets equity investments up to $15 million in businesses operating in the business services, financial services, healthcare, and education sectors. Prospective companies generally have proven management, proprietary products or high barriers to entry, recurring revenue, and proven business models. Camden Partners was formed in 1995 and is based in Baltimore, Maryland.


DEAL STATS #
Overall 21 of 25
Sector (Life Science) 1 of 1
Type (Add-on Acquisition) 10 of 13
State (Maryland) 2 of 3
Country (United States) 20 of 24
Year (2019) 1 of 3
Size (of disclosed) 1 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-06-28 Volly

Woburn, Massachusetts, United States

Volly is a provider of marketing automation and cloud-based CRM solutions for mortgage companies and banks including one of the top three retail lenders in the nation. Its flagship solution, CustomerManager, is an enterprise-wide, Software-as-a-Service platform that combines lead management, email and direct mail campaigns with a 360-degree view of each loan officer's customers, partners, and prospects. Volly was founded in 2004 and is based in Woburn, Massachusetts.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-05-09 Ranir

Grand Rapids, Michigan, United States

Ranir LLC is a manufacturer of private label consumer oral and personal care products, including power and manual toothbrushes, teeth whiteners, dental floss and flossers, interdental devices, travel accessories and more. Ranir LLC was founded in 1979 and is based in Grand Rapids, Michigan.

Sell $750M
SELLER

NewSpring Capital

Radnor, Pennsylvania, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1999
PE ASSETS 1.7B USD
Size Large
Type Sector Agnostic
DESCRIPTION

NewSpring Capital is a private investment firm focused on growth companies in the Mid-Atlantic US. The Firm can provide both growth equity and junior capital to prospective companies. NewSpring's target investment size for both mezzanine and equity financing is $2 to $5 million, although for new ventures, the Firm can commit up to $10 million. Sectors of interest include specialty manufacturing, technology, business services, information technology, life science, healthcare services, and medical devices. NewSpring Capital was formed in 1999 and is based in Radnor, Pennsylvania with an additional office in Short Hills, New Jersey.


DEAL STATS #
Overall 54 of 77
Sector (Life Science) 6 of 6
Type (Add-on Acquisition) 36 of 42
State (Maryland) 2 of 5
Country (United States) 53 of 76
Year (2019) 3 of 8
Size (of disclosed) 1 of 15
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-04-13 Sussex Wire

Easton, Pennsylvania, United States

Sussex Wire, Inc. specializes in the design, manufacturing, and distribution of highly-engineered, specialty metal parts and components utilizing cold-forming technology. Sussex Wire was founded in 1974 and is based in Easton, Pennsylvania.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-05-13 Zentech

Baltimore, Maryland, United States

Zentech is an engineering-driven electronics contract manufacturer specializing in the design and manufacture of highly-complex electronic and RF circuit cards and assemblies. Zentech was formed in 1998 and is based in Baltimore, Maryland.

Sell -