M&A Deal Summary

Altaris Acquires Padagis

On March 1, 2021, private equity firm Altaris acquired life science company Padagis from Perrigo Company for 1.6B USD

Acquisition Highlights
  • This is Altaris’ 5th transaction in the Life Science sector.
  • This is Altaris’ largest (disclosed) transaction.
  • This is Altaris’ 28th transaction in the United States.
  • This is Altaris’ 1st transaction in Michigan.

M&A Deal Summary

Date 2021-03-01
Target Padagis
Sector Life Science
Buyer(s) Altaris
Sellers(s) Perrigo Company
Deal Type Divestiture
Deal Value 1.6B USD

Target

Padagis

Allegan, Michigan, United States
Padagis is a generic prescription pharmaceutical company having more than 1,300 employees across six locations in the United States and Israel. The company’s diversified and specialized portfolio consists of over 200 product families and 800 SKUs, with a focus on extended topical dosage forms, including creams, ointments, lotions, gels, foams, liquids, and nasal sprays. Padagis is based in Allegan, Michigan.

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Buyer(S) 1

Buyer

Altaris

New York City, New York, United States

Category Private Equity Firm
Founded 2003
PE ASSETS 10.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

Altaris is a specialist private equity firm that targets investments in the healthcare industry. Altaris focuses its investment activity across the healthcare sector, including pharmaceuticals, medical devices, healthcare services and healthcare IT. Altaris will consider both control and non-control investment situations requiring $15 to $50 million of equity capital. Prospective investment situations include corporate carve-outs, leveraged buyouts, and growth equity/recapitalization investments. Altaris was formed in 2004 and is based in New York, New York.


DEAL STATS #
Overall 30 of 36
Sector (Life Science) 5 of 8
Type (Divestiture) 3 of 6
State (Michigan) 1 of 1
Country (United States) 28 of 34
Year (2021) 1 of 4
Size (of disclosed) 1 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-12-24 CSafe Global

Monroe, Ohio, United States

CSafe Global is a provider of cold chain packaging solutions that address the global supply chain needs of the biopharmaceutical industry. CSafe Global’s climate-controlled containers are designed to maintain high-value and temperature-sensitive biopharmaceutical cargo at precise temperatures for extended periods of time and in extreme external conditions. CSafe Global is based in Monroe, Ohio.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-04-01 Senior Helpers

Towson, Maryland, United States

Senior Helpers is a franchisor of private pay, professional home care for elderly individuals, with approximately 285 active territories across 39 states. The Company provides specialized programs that have been developed in collaboration with medical experts and offers specialized care services for individuals with Alzheimer's, dementia, and Parkinson's. Senior Helpers was formed in 2002 and is based in Towson, Maryland.

Sell -

Seller(S) 1

SELLER

Perrigo Company

Dublin 2, Ireland

Category Company
Founded 1887
Sector Life Science
Employees9,140
Revenue 4.7B USD (2023)
DESCRIPTION
Entrance to a Perrigo facility in Duncan, South Carolina.
Entrance to a Perrigo facility in Duncan, South Carolina.

Perrigo Company is a global healthcare supplier that develops, manufactures and distributes over-the-counter (OTC) and prescription (Rx) pharmaceuticals, nutritional products, and active pharmaceutical ingredients (API), as well as receives royalties from Multiple Sclerosis drug Tysabri®. The company is the world's largest manufacturer of OTC pharmaceutical products for the store brand market and an industry leader in pharmaceutical technologies. Perrigo Company was founded in 1887 and is based in Dublin, Ireland.


DEAL STATS #
Overall 8 of 9
Sector (Life Science) 6 of 7
Type (Divestiture) 8 of 9
State (Michigan) 1 of 1
Country (United States) 2 of 2
Year (2021) 1 of 2
Size (of disclosed) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-08-11 Sanofi SA - OTC Self-Care Brands

Paris, France

Sanofi SA's OTC Self-Care Brands includes skincare and hair loss treatment brands (Emolium®, Iwostin® and Loxon®).

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-05-18 Perrigo Latin American Pharmaceutical Business

Mexico

Perrigo Latin American Pharmaceutical Business is a global supplier of pharmaceutical products in Mexico and Brazil.

Sell -