Divestiture • Medical Products

CVC Capital Partners Acquires Therakos

On August 5, 2024, private equity firm CVC Capital Partners acquired medical products company Therakos from Mallinckrodt for 925M USD

Acquisition Context
  • This is CVC Capital Partners’ 6th transaction in the Medical Products sector.
  • This is CVC Capital Partners’ 36th largest (disclosed) transaction.
  • This is CVC Capital Partners’ 45th transaction in the United States.
  • This is CVC Capital Partners’ 4th transaction in Pennsylvania.

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M&A Deal Summary

Date August 5, 2024
Target Therakos
Sector Medical Products
Buyer(s) CVC Capital Partners
Sellers(s) Mallinckrodt
Deal Type Divestiture
Deal Value 925M USD

Target Company

Therakos

West Chester, Pennsylvania, United States
Therakos is a fully integrated extracorporeal photopheresis (ECP) delivery system for autologous immunomodulatory therapy. Therakos is based in West Chester, Pennsylvania.
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Buyer Overview 1

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 Context for Buyer #
Overall 326 of 330
Sector: Medical Products 6 of 6
Type: Divestiture 39 of 40
State: Pennsylvania 4 of 4
Country: United States 45 of 46
Year: 2024 8 of 9
Size (of disclosed) 36 of 59
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-07-25 Hiserv

Schönefeld, Germany

Hiserv offers leasing ground service equipment (GSE) with a strong European foothold. The company provides customers with the best possible fleet design at airports to optimize, and thus save, elementary resources in the long term. Hiserv is based in Schönefeld, Germany.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-08-07 Acronis

Schaffhausen, Switzerland

Acronis is a provider of virtualization, the explosion of data creation and the opportunities Cloud services offer are bringing new challenges to maintaining effective backup and disaster recovery programs for critical data. Acronis was founded in 2003 and is based in Schaffhausen, Switzerland.

Sell -

Seller Profile 1

SELLER

Mallinckrodt

Dublin, United Kingdom

Category Company
Founded 1867
Sector Life Science
Employees2,673
Revenue 2.2B USD (2021)
DESCRIPTION

Mallinckrodt is a specialty pharmaceutical and medical imaging business that develops, manufactures, markets and distributes specialty pharmaceutical products and medical imaging agents. The company’s core strengths include the acquisition and management of highly regulated raw materials; deep regulatory expertise; and specialized chemistry, formulation and manufacturing capabilities. Mallinckrodt was founded in 1867 and is based in Dublin, Ireland.


Deal Context for Seller #
Overall 7 of 7
Sector: Medical Products 4 of 4
Type: Divestiture 7 of 7
State: Pennsylvania 1 of 1
Country: United States 2 of 2
Year: 2024 1 of 1
Size (of disclosed) 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-05-19 Mallinckrodt - Adrabetadex

Dublin, Ireland

Mallinckrodt's Adrabetadex is a drug in development for the treatment of Niemann-Pick Type C1 disease (NPC1).

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-03-13 Endo International

Dublin, Ireland

Endo International is a pharmaceutical company engaged in the research, development, sale and marketing of branded and generic prescription pharmaceuticals used to treat and manage pain, bladder cancer, prostate cancer and the early onset of puberty in children, or central precocious puberty (CPP). Endo International was incorporatted in 1920 and is based in Dublin, Ireland.

Buy $80M