M&A Deal Summary

Apollo Global Management Acquires Covis Pharma

On February 6, 2020, asset manager Apollo Global Management acquired life science company Covis Pharma from Cerberus Capital Management

Acquisition Highlights
  • This is Apollo Global Management’s 1st transaction in the Life Science sector.
  • This is Apollo Global Management’s 1st transaction in Luxembourg.
Investment Fate
  • Covis Pharma was sold to a strategic buyer in 2025.

M&A Deal Summary

Date 2020-02-06
Target Covis Pharma
Sector Life Science
Buyer(s) Apollo Global Management
Sellers(s) Cerberus Capital Management
Deal Type Secondary Buyout
Advisor(s) Rothschild Global Advisory (Financial)
Dechert (Legal)

Target

Covis Pharma

Luxembourg, Luxembourg
Covis Pharma is a global specialty pharmaceutical company that markets therapeutic solutions for patients with life-threatening conditions and chronic illnesses. Covis is focused on marketing and distributing an array of branded products used to treat chronic and life-threatening medical issues and improve patient outcomes in various therapeutic areas including respiratory, cardiovascular, gastroenterology, and central nervous system diseases. Covis Pharma was founded in 2011 and is based in Luxembourg, Luxembourg.

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Buyer(S) 1

Buyer

Apollo Global Management

New York, New York, United States

Investor Investor Investor Investor Investor


Category Asset Manager
Founded 1990
PE ASSETS 72.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Apollo Global Management is a global alternative investment firm. The Firm segments its activity between private equity, capital markets, real estate, and publicly traded investment funds. Within private equity, Apollo targets traditional buyouts, distressed situations, as well as minority investments to help companies make acquisitions or fund other needs. Sectors of interest include chemicals, commodities, consumer/retail, distribution, transportation, financial services, business services, manufacturing, industrial, media/cable/leisure, packaging, and satellite/wireless. Apollo's geographic coverage spans Europe, North America, and Asia. Apollo manages publicly traded Apollo Investment Corporation, which provides equity and junior capital to middle-market companies, as well as Apollo Commercial Real Estate Finance, Inc. Apollo Global Management was formed in 1990 and is based in New York City.


DEAL STATS #
Overall 95 of 151
Sector: Life Science M&A 1 of 1
Type: Secondary Buyout M&A Deals 19 of 38
Country: Luxembourg M&A 1 of 1
Year: 2020 M&A 2 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-01-13 Takkion

Evansville, Wyoming, United States

Takkion is a premier multimodal logistics and O&M services provider for the energy transition. Takkion was founded in 2019 and is based in Evansville, Wyoming.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-03-06 Smart Foodservice Warehouse Stores

Clackamas, Oregon, United States

Smart Foodservice Warehouse Stores LLC sells quality ingredients and restaurant supplies in a simple, convenient warehouse format by providing it's customers exceptional service and a dependable source of supply.

Sell $970M

Seller(S) 1

SELLER

Cerberus Capital Management

New York, New York, United States

Investor Investor Investor Investor Investor


Category Asset Manager
Founded 1992
PE ASSETS 55.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Cerberus Capital Management is a private investment firm that targets a wide range of global investments. Cerberus primarily looks for undervalued or distressed situations. Industry sectors of interest include aerospace and defense, apparel, automotive and industrial, building products, commercial services, consumer and retail, financial services, healthcare, manufacturing and distribution, paper, packaging, and printing, real estate, technology, telecommunications, transportation, and travel. In addition to private equity investing, Cerberus also provides corporate credit and acquires real estate. Cerberus was formed in 1992 by Steve Feinberg and is based in New York City.


DEAL STATS #
Overall 45 of 57
Sector: Life Science M&A 3 of 3
Type: Secondary Buyout M&A Deals 6 of 6
Country: Luxembourg M&A 1 of 1
Year: 2020 M&A 1 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-12-16 Renovalia Energy

Madrid, Spain

Renovalia Energy specializes in the promotion, production, management and sale of electricity generated through renewable energy sources (wind power, photovoltaic power and small hydro power). Renovalia Energy was founded in 1998 and is based in Madrid, Spain.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-05-14 Boomers Parks

Boca Raton, Florida, United States

Boomers Parks is an entertainment services provider. Boomers Parks is a family entertainment centers include park locations under Boomers!, Malibu Grand Prix, Mountasia, and SpeedZone franchise brands. Boomers Parks is based in Boca Raton, Florida.

Buy $45M