M&A Deal Summary

CVC Capital Partners, Temasek Holdings and Athyrium Capital Management Acquire Alvogen

On June 23, 2015, private equity firm CVC Capital Partners, sovereign wealth fund Temasek Holdings and asset manager Athyrium Capital Management acquired life science company Alvogen from Pamplona Capital Management - Private Equity for 2.0B USD

Acquisition Highlights
  • This is CVC Capital Partners’ 3rd, Temasek Holdings’ 2nd and Athyrium Capital Management’s 9th transaction in the Life Science sector.
  • This is CVC Capital Partners’ 13th, Temasek Holdings’ 3rd and Athyrium Capital Management’s 2nd largest (disclosed) transaction.
  • This is CVC Capital Partners’ 14th, Temasek Holdings’ 6th and Athyrium Capital Management’s 11th transaction in the United States.
  • This is CVC Capital Partners’ 1st, Temasek Holdings’ 1st and Athyrium Capital Management’s 2nd transaction in New Jersey.

M&A Deal Summary
Date 2015-06-23
Target Alvogen
Sector Life Science
Buyer(s) CVC Capital Partners
Temasek Holdings
Athyrium Capital Management
Sellers(s) Pamplona Capital Management - Private Equity
Deal Type Secondary Buyout
Deal Value 2.0B USD

Target

Alvogen

Morristown, New Jersey, United States
Alvogen is a multinational pharmaceuticals company focused on developing, manufacturing and distributing generic, brand, over-the-counter brands (OTC) and biosimilar products. With more than 200 pharmaceutical projects in development and registration, the group’s product portfolio consists of a broad range of leading molecules for the treatment of conditions in the fields of oncology, cardiology, respiratory, neurology, and gastroenterology. Alvogen has commercial operations in over 30 countries across North America, Central and Eastern Europe, and the Asia Pacific. Alvogen was founded in 2009 and is based in Morristown, New Jersey.

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Buyer(S) 3

Buyer

CVC Capital Partners

Luxembourg, Luxembourg

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1981
PE ASSETS 177.0B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

CVC Capital Partners is a global private equity firm focused on investments in large companies located in Europe, North America, and Asia. CVC looks for opportunities with stable cash flows and talented management, and will consider businesses in a variety of industries. Target sectors include textiles, industrial products, waste management, building materials, energy/utilities, business services, financial services, distribution, healthcare, media, semiconductors, and gaming. CVC can handle transactions valued from €200 million to €10 billion. CVC Capital Partners was formed in 1981 and is based in Luxembourg.

DEAL STATS #
Overall 177 of 323
Sector (Life Science) 3 of 9
Type (Secondary Buyout) 30 of 76
State (New Jersey) 1 of 2
Country (United States) 14 of 44
Year (2015) 8 of 15
Size (of disclosed) 13 of 56
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-06-19 Stage Entertainment BV

Amsterdam, Netherlands

Stage Entertainment BV is a creative developer and producer of over 40 musicals and shows on an annual basis, combined with a portfolio of 20 own theaters. Stage Entertainment BV was founded in 1998 and is based in Amsterdam, Netherlands.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-07-01 Linxens SA

Guyancourt, France

Linxens SA is a manufacturer of connectors for smart cards. Linxens was founded in 1986 and is based in Guyancourt, France.

Buy $1.7B
Buyer

Temasek Holdings

Investor Investor Investor Investor Investor

Category Sovereign Wealth Fund
Founded 1974
PE ASSETS 496.6B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Temasek Holdings is a state-owned investment holding company. Temasek is owned by the government of Singapore and invests directly and indirectly in a broad range of assets and sectors. Target sectors include financial services, telecommunications, media, technology, transportation, industrials, life science, consumer, real estate, energy, and resources. Temasek was formed in 1974 and is based in Singapore.

DEAL STATS #
Overall 11 of 33
Sector (Life Science) 2 of 5
Type (Secondary Buyout) 1 of 5
State (New Jersey) 1 of 1
Country (United States) 6 of 13
Year (2015) 4 of 4
Size (of disclosed) 3 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-04-24 Crompton Greaves Consumer Electricals

Mumbai , India

Crompton Greaves consumer manufactures and markets a wide spectrum of consumer products, ranging from fans, lamps, and luminaires to pumps and household appliances such as water heaters, mixer grinders, toasters, irons, and electric lanterns. Crompton Greaves Consumer Electricals was founded in 2015 and is based in Mumbai, India.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-10-13 AETOS Holdings Pte

Singapore, Singapore

AETOS Holdings Pte Ltd. is a provider of integrated and tailor-made solutions that cater to the security needs of a diverse clientele.

Sell -
Buyer

Athyrium Capital Management

Investor Investor Investor Investor Investor

Category Asset Manager
Founded 2008
PE ASSETS 3.7B USD
Size Large
Type Sector Focused
DESCRIPTION

Athyrium Capital Management is a large asset manager focused on the healthcare sector. Athyrium invests in a wide range of financial instruments including royalties, structured credit, and equities as well as select special situations. Athyrium Capital was established in 2008 and is headquartered in New York City.

DEAL STATS #
Overall 13 of 44
Sector (Life Science) 9 of 22
Type (Secondary Buyout) 1 of 6
State (New Jersey) 2 of 3
Country (United States) 11 of 39
Year (2015) 3 of 6
Size (of disclosed) 2 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-04-20 TEAM Services Group

San Diego, California, United States

TEAM Services Group provides household employment and home care solutions through its family of companies across the United States. TEAM believes in the value of self-direction – allowing individuals and families to work with who they want in their homes – and therefore aim to facilitate choice and independence, delivered with the highest standards of quality and security. TEAM Services Group is based in San Diego, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-09-18 Clover Health

Franklin, Tennessee, United States

Clover Health operates as a medicare advantage insurer in the United States. The company through its Clover Assistant, a software platform that provides preferred provider organization and health maintenance organization health plans for medicare-eligible consumers. It also focuses on non-insurance businesses. Clover Health was founded in 2012 and is based in Franklin, Tennessee.

Buy -

Seller(S) 1

SELLER

Pamplona Capital Management - Private Equity

London, United Kingdom

Investor Investor

Category Private Equity Firm
Founded 2005
PE ASSETS 11.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Pamplona Capital Management - Private Equity, is the private equity unit of asset manager Pamplona, which also provides hedge funds and hedge fund-of-funds products. Pamplona PE invests in 'market leading' companies in a variety of industry sectors. The Group will consider opportunities throughout North America and Europe. Pamplona PE was established in 2005 and is based in London and New York.

DEAL STATS #
Overall 10 of 20
Sector (Life Science) 1 of 2
Type (Secondary Buyout) 2 of 8
State (New Jersey) 1 of 1
Country (United States) 1 of 8
Year (2015) 1 of 1
Size (of disclosed) 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-06-08 Spreemo

New York, New York, United States

Spreemo is a provider of transparency of quality and cost, Its connecting payers and providers online with collaborative workflow tools and we are highlighting the value in quality medicine, ultimately enabling better patient care. Spreemo is based in New York City.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-06-30 Precyse

Wayne, Pennsylvania, United States

Precyse is a provider of outsourced medical transcription, medical coding, and other document management services to U.S. based hospitals and other healthcare providers. The company also provides healthcare facilities with cutting-edge, outsourced administrative functions. Precyse was founded in 1999 and is based in Wayne, Pennsylvania.

Buy -
Mergr

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