M&A Deal Summary

Barings Private Equity Acquires Fortovia Therapeutics

On November 12, 2018, private equity firm Barings Private Equity acquired life science company Fortovia Therapeutics from Midatech Pharma for 19M USD

Acquisition Highlights
  • This is Barings Private Equity’s 1st transaction in the Life Science sector.
  • This is Barings Private Equity’s 4th largest (disclosed) transaction.
  • This is Barings Private Equity’s 39th transaction in the United States.
  • This is Barings Private Equity’s 3rd transaction in North Carolina.
Investment Fate
  • Fortovia Therapeutics went bankrupt in 2020.

M&A Deal Summary
Date 2018-11-12
Target Fortovia Therapeutics
Sector Life Science
Buyer(s) Barings Private Equity
Sellers(s) Midatech Pharma
Deal Type Divestiture
Deal Value 19M USD
Advisor(s) Torreya Partners LLC (Financial)
Brown Rudnick (Legal)

Target

Fortovia Therapeutics

Raleigh, North Carolina, United States
Fortovia Therapeutics is a pharmaceutical company focused on oncology supportive care, with five marketed products in their portfolio. These products help patients manage the impact of their cancer as well as the side effects of their cancer therapies. Fortovia Therapeutics was founded in 2002 and is based in Raleigh, North Carolina.

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Buyer(S) 1

Buyer

Barings Private Equity

Investor Investor

Category Private Equity Firm
Founded 1991
PE ASSETS 5.7B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Barings Private Equity is the private equity arm of global asset management firm Barings. The Group looks to invest in mezzanine, distressed, and other private equity transactions including secondaries and funds. Sectors of interest include manufacturing, business services, distribution, consumer products, consumer services, food products, packaging, and healthcare. Barings Private Equity was originally established in 1991 and is based in Charlotte, North Carolina.

DEAL STATS #
Overall 43 of 53
Sector (Life Science) 1 of 1
Type (Divestiture) 3 of 3
State (North Carolina) 3 of 3
Country (United States) 39 of 48
Year (2018) 1 of 1
Size (of disclosed) 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-08-28 Aramsco

Paulsboro, New Jersey, United States

Aramsco is a distributor of products, equipment, and services to specialty contractors in North America. The Company carries more than 30,000 different products ranging from personal protective equipment to specialty chemicals and equipment. Aramsco complements this product offering with a suite of value-added services such as equipment repair, rental, and training. Aramsco was founded in 1966 and is based in Paulsboro, New Jersey.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-02-12 York Wallcoverings

York, Pennsylvania, United States

York Wallcoverings is a manufacturer of residential and commercial wallpaper, as well as peel-and-stick removable and reusable wall decals. York Wallcoverings was founded in 1895 and is based in York, Pennsylvania.

Sell -

Seller(S) 1

SELLER

Midatech Pharma

Cardiff, United Kingdom
Category Company
Founded 2000
Sector Life Science
Employees18
Revenue 8M GBP (2017)
DESCRIPTION

Midatech is a nanomedicine company focused on the development and commercialisation of multiple, high-value, targeted therapies for major diseases with unmet medical need. Midatech Pharma was founded in 2000 and is based in Cardiff, the United Kingdom.

DEAL STATS #
Overall 1 of 1
Sector (Life Science) 1 of 1
Type (Divestiture) 1 of 1
State (North Carolina) 1 of 1
Country (United States) 1 of 1
Year (2018) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-12-30 Galena Biopharma - Zuplenz

United States

Galena Biopharma - Zuplenz® (ondansetron) Oral Soluble Film, is approved by the U.S. Food and Drug Administration for use in adult patients for the prevention of highly and moderately emetogenic chemotherapy-induced nausea and vomiting (CINV), radiotherapy-induced nausea and vomiting (RINV), and post-operative nausea and vomiting (PONV)

Buy -
Mergr

Product

Company

Legal