M&A Deal Summary

Forest Laboratories Acquires Aptalis Pharma

On January 8, 2014, Forest Laboratories acquired medical products company Aptalis Pharma from Graycliff Partners and TPG for 2.9B USD

Acquisition Highlights
  • This is Forest Laboratories’ 2nd transaction in the Medical Products sector.
  • This is Forest Laboratories’ largest (disclosed) transaction.
  • This is Forest Laboratories’ 1st transaction in Canada.
  • This is Forest Laboratories’ 1st transaction in Quebec.

M&A Deal Summary
Date 2014-01-08
Target Aptalis Pharma
Sector Medical Products
Buyer(s) Forest Laboratories
Sellers(s) Graycliff Partners
TPG
Deal Type Add-on Acquisition
Deal Value 2.9B USD
Advisor(s) J.P. Morgan Securities (Financial)
Ropes & Gray (Legal)

Target

Aptalis Pharma

Mont-Saint-Hilaire, Quebec, Canada
Aptalis is a leading multinational specialty pharmaceutical company. The Company develops and markets a broad line of prescription products used to treat gastrointestinal diseases and disorders.

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Buyer(S) 1

Buyer

Forest Laboratories

New York, New York, United States
Category Company
Founded 1956
Sector Medical Products
Employees5,800
Revenue 3.1B USD (2013)
DESCRIPTION

Forest Laboratories, Inc. develops, manufactures, and sells branded forms of ethical drug products in the United States and Europe.

DEAL STATS #
Overall 3 of 4
Sector (Medical Products) 2 of 2
Type (Add-on Acquisition) 3 of 4
State (Quebec) 1 of 1
Country (Canada) 1 of 1
Year (2014) 1 of 2
Size (of disclosed) 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-04-14 Clinical Data

Newton, Massachusetts, United States

Clinical Data, a specialty pharmaceutical company focused on the development of first-in-class and best-in-category therapeutics.

Buy $1.2B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-07-02 Furiex Pharmaceuticals

Morrisville, North Carolina, United States

Furiex Pharmaceuticals, Inc. is a drug development company focusing on treatment for gastroenterology disorders. Furiex Pharmaceuticals forms collaborations with innovators from both the biotechnology and pharmaceutical industry.

Buy $1.1B

Seller(S) 2

SELLER

Graycliff Partners

New York, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1991
PE ASSETS 1.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Graycliff Partners is a private equity firm focused on private equity and mezzanine investments in middle-market companies throughout the US. The Firm's mezzanine practice does not have any sector preferences and looks to invest $10 to $50 million in profitable companies with at least $10 million in revenue. Funds are used to support buyouts, growth needs, divestitures, or consolidations. Graycliff's private equity group looks to acquire middle-market companies in the manufacturing, service, and distribution sectors. The Firm looks for businesses with $10 to $200 million of revenue. Graycliff Partners was established in 1991 and is based in New York City.

DEAL STATS #
Overall 5 of 37
Sector (Medical Products) 1 of 1
Type (Add-on Acquisition) 2 of 18
State (Quebec) 1 of 1
Country (Canada) 1 of 1
Year (2014) 1 of 2
Size (of disclosed) 1 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-12-02 Tops Markets

Williamsville, New York, United States

Tops Markets is a full-service grocery retailer in upstate New York.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-04-28 HarperLove

Charlotte, North Carolina, United States

HarperLove is a provider of performance additives, specialty adhesives, and wet-strength resins to the corrugated packaging industry. HarperLove was founded in 1978 and is based in Charlotte, North Carolina.

Buy -
SELLER

TPG

Fort Worth, Texas, United States

Investor Investor Investor Investor

Category Private Equity Firm
Founded 1992
PE ASSETS 137.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

TPG Capital is a global, mega-sized private investment firm that manages a family of funds focused on private equity, real estate, venture capital, public equity and debt investing. TPG invests in opportunities across a broad range of industries and geographies. TPG generally seeks to invest in established businesses that can benefit from the Firm's operational experience and connections. Industries of interest include consumer, retail, healthcare, industrials, digital media, natural resources, energy, real estate, technology, and software. TPG was formerly known as Texas Pacific Group and was originally established in 1992 by David Bonderman, James Coulter and William Price. The Firm is based in Forth Worth, Texas with additional offices in Europe, Asia, and Australia.

DEAL STATS #
Overall 116 of 267
Sector (Medical Products) 6 of 11
Type (Add-on Acquisition) 48 of 94
State (Quebec) 1 of 2
Country (Canada) 1 of 3
Year (2014) 1 of 20
Size (of disclosed) 19 of 71
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-01-01 Group Landmark

Ahmedabad, India

Group Landmark operates in the fields of Automobile and Insurance. Group Landmark is one of the largest luxury and premium car dealership chains in India. The company is present in 27 cities across India with more than 90 state-of-the-art facilities. Group Landmark was founded in 1998 and is based in Ahmedabad, India.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-01-09 Papa John s

Birmingham, Alabama, United States

Papa John is a restaurant operator in pizza category, with one of the most experienced management teams in industry. Papa John's was founded in 1991 and is headquartered in Birmingham, Alabama.

Buy -
Mergr

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Legal