M&A Deal Summary

Endo International Acquires Qualitest Pharmaceuticals

On December 1, 2010, Endo International acquired life science company Qualitest Pharmaceuticals from Apax and Prospect Capital Management for 1.2B USD

Acquisition Highlights
  • This is Endo International’s 4th transaction in the Life Science sector.
  • This is Endo International’s 5th largest (disclosed) transaction.
  • This is Endo International’s 7th transaction in the United States.
  • This is Endo International’s 1st transaction in Alabama.

M&A Deal Summary

Date 2010-12-01
Target Qualitest Pharmaceuticals
Sector Life Science
Buyer(s) Endo International
Sellers(s) Apax
Prospect Capital Management
Deal Type Add-on Acquisition
Deal Value 1.2B USD
Advisor(s) J.P. Morgan Securities (Financial)
Kirkland & Ellis (Legal)

Target

Qualitest Pharmaceuticals

Huntsville, Alabama, United States
Qualitest Pharmaceuticals Co., is a researching, manufacturing and delivering affordable, high-quality generic pharmaceuticals.

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Buyer(S) 1

Buyer

Endo International

Dublin, Ireland

Category Company
Founded 1920
Sector Medical Products
Employees3,103
Revenue 2.9B USD (2020)
DESCRIPTION

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.


DEAL STATS #
Overall 7 of 16
Sector (Life Science) 4 of 11
Type (Add-on Acquisition) 7 of 15
State (Alabama) 1 of 1
Country (United States) 7 of 14
Year (2010) 3 of 3
Size (of disclosed) 5 of 14
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-08-09 Penwest Pharmaceuticals

Patterson, New York, United States

Penwest Pharmaceuticals Co., is a drug delivery company focused on applying its drug delivery technologies and drug formulation expertise to the formulation of our collaborators' product candidates under licensing collaborations.

Buy $168M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-06-20 American Medical Systems

Minnetonka, Minnesota, United States

American Medical Systems, Inc. is a manufacturer and marketer of medical devices for the surgical treatment of urological and gynecological disorders.

Buy $2.9B

Seller(S) 2

SELLER

Apax

London, United Kingdom

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1981
PE ASSETS 77.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Apax Partners is a mega-sized private equity investment group, operating across the United States, Europe, Israel and Asia. Broad industry sectors of interest include tech & telecom, media, retail & consumer, healthcare, financial services, and business services. Apax will consider both minority and majority investment positions and prefers companies with strong market positions and growth potential. The Firm generally pursues platform acquisitions valued from $1 to $5 billion. Apax Partners was formed in 1981 and is based in London.


DEAL STATS #
Overall 61 of 172
Sector (Life Science) 4 of 6
Type (Add-on Acquisition) 25 of 60
State (Alabama) 1 of 1
Country (United States) 20 of 64
Year (2010) 18 of 18
Size (of disclosed) 19 of 51
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-11-25 Advantage Solutions

Clayton, Missouri, United States

Advantage Solutions is a business solutions provider committed to driving growth for consumer goods manufacturers and retailers through winning insights and execution. Advantage’s data and technology-enabled omnichannel solutions including sales, retail merchandising, business intelligence, digital commerce, and a full suite of marketing services are designed to help brands and retailers across a broad range of channels drive consumer demand, increase sales and achieve operating efficiencies. Headquartered in Irvine, California, Advantage has offices throughout the United States and Canada and a presence in select markets throughout Africa, Asia, Australia and Europe. Advantage Solutions was founded in 1987 and is based in Clayton, Missouri.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-12-23 Takko Fashion

Telgte, Germany

Takko Fashion is a retailer of fashionable 'value for money' clothing, targeting young families and women aged between 25 and 40. Takko Fashion was formed in 1982 and runs over 900 stores in Germany, Austria, The Netherlands, Hungary, and the Czech Republic.

Buy $1.7B
SELLER

Prospect Capital Management

New York, New York, United States

Investor Investor Investor Investor Investor


Category Business Development Company
Founded 1988
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Prospect Capital Corporation is a publicly traded mezzanine debt and private equity firm that primarily provides non-control financing to support growth, recapitalizations, acquisitions, and development. Prospect will selectively consider control acquisitions by providing multiple levels of the capital structure. Prospect was initially formed in 1988 and went public 2004. The Firm is based in New York City.


DEAL STATS #
Overall 5 of 48
Sector (Life Science) 1 of 1
Type (Add-on Acquisition) 2 of 17
State (Alabama) 1 of 1
Country (United States) 5 of 47
Year (2010) 3 of 3
Size (of disclosed) 3 of 13
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-11-30 Royal Adhesives & Sealants

South Bend, Indiana, United States

Royal Adhesives & Sealants LLC is a producer of proprietary, high-performance adhesives and sealants. Royal offers a broad range of specialty formulated products designed to solve complex bonding, laminating and sealing applications across a diverse range of markets including aerospace and defense, construction, specialty packaging, automotive and industrial.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-12-27 Jordan Health Services

Addison, Texas, United States

Jordan Health Services is a provider of home health services, including personal care, home management, and skilled nursing, to Medicaid and/or Medicare eligible patients throughout the entire state of Texas. With over 12,000 employees in 28 locations serving thousands of clients, Jordan Health Services is one of the largest home healthcare providers in the state of Texas.

Buy -