M&A Deal Summary

Ironbridge Capital and Archer Capital Acquire iNova Pharmaceuticals

On November 9, 2006, private equity firms Ironbridge Capital and Archer Capital acquired life science company iNova Pharmaceuticals from 3M for 349M USD

Acquisition Highlights
  • This is Ironbridge Capital’s 1st and Archer Capital’s 1st transaction in the Life Science sector.
  • This is Ironbridge Capital’s and Archer Capital’s 2nd largest (disclosed) transaction.
  • This is Ironbridge Capital’s 1st and Archer Capital’s 1st transaction in Singapore.
Investment Fate
  • iNova Pharmaceuticals was sold to a publicly-traded strategic buyer in 2011 for 700M AUD.
  • iNova Pharmaceuticals was divested to a consortium of buyers in 2017 for 930M USD.
  • iNova Pharmaceuticals was sold to a consortium of financial buyers in 2022 for 1.4B USD.

M&A Deal Summary
Date 2006-11-09
Target iNova Pharmaceuticals
Sector Life Science
Buyer(s) Ironbridge Capital
Archer Capital
Sellers(s) 3M
Deal Type Divestiture
Deal Value 349M USD

Target

iNova Pharmaceuticals

Singapore, Singapore
iNova Pharmaceuticals is a developer and marketer of over-the-counter and prescription medicines. iNova Pharmaceuticals was founded in 1958 and is based in Singapore.

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Buyer(S) 2

Buyer

Ironbridge Capital

Sydney, Australia

Investor Investor Investor

Category Private Equity Firm
Founded 2003
PE ASSETS 1.5B AUD
Size Large
Type Sector Agnostic
DESCRIPTION

Ironbridge Capital is a middle-market private equity firm that targets growth capital and buyout investments in Australia and New Zealand. Ironbridge focuses its investment activity within the services sector and targets businesses with the potential for strong and sustained growth in revenue and profitability. Ironbridge Capital was formed in 2003 and has offices in Sydney and Auckland.

DEAL STATS #
Overall 10 of 19
Sector (Life Science) 1 of 1
Type (Divestiture) 2 of 3
Country (Singapore) 1 of 1
Year (2006) 3 of 3
Size (of disclosed) 1 of 12
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-09-01 Riviera Marine Pty.

Coomera, Australia

Riviera Marine Pty. Ltd. is a provider of open and enclosed fly bridge yachts, sport motor yachts, sport yachts, and SUV yachts.

Buy AU$287M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-04-01 EnviroWaste Services

Auckland, New Zealand

EnviroWaste Services Limited delivers EnviroSolutions to address the waste and recycling needs of New Zealand's communities and businesses. Through our integrated, national network of branches, joint ventures and subsidiary companies, EnviroWaste has the capability to manage the progression of waste through each phase of the waste stream.

Buy NZ$259M
Buyer

Archer Capital

Dawes Point, Australia
Category Private Equity Firm
Founded 1997
PE ASSETS 2.5B AUD
Size Large
Type Sector Agnostic
DESCRIPTION

Archer Capital is an independent private equity firm that targets buyout opportunities in Australia and New Zealand. Archer looks for growth companies with strong market positions. Archer prefers majority investment positions. The Firm will not invest in real estate or businesses with unproven technology. Archer Capital was formed in 1997 and is based in Dawes Point, Australia.

DEAL STATS #
Overall 16 of 39
Sector (Life Science) 1 of 1
Type (Divestiture) 4 of 6
Country (Singapore) 1 of 1
Year (2006) 3 of 3
Size (of disclosed) 2 of 12
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-11-09 Rebel Sport

Silverwater, Australia

Rebel Sport is a retailer of sporting and leisure equipment, apparel, and footwear. Rebel Sport offers customers an incomparable range of the biggest brands and latest products. Rebel Sport is based in Silverwater, Australia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-03-01 SCF Group

Marleston, Australia

SCF Group is an Australia’s specialised container lesser to the transport industry and a supplier of container equipment to both corporate and retail customers. SCF Group was founded in 1991 and is based in Marleston, Australia.

Buy -

Seller(S) 1

SELLER

3M

St Paul, Minnesota, United States
Category Company
Founded 1902
Sector Diversified
Employees92,000
Revenue 32.7B USD (2023)
DESCRIPTION
Entrance to 3M's corporate campus in St. Paul, Minnesota.
Entrance to 3M's corporate campus in St. Paul, Minnesota.

3M is a diversified manufacturing and technology company. The Company produces a variety of adhesives, abrasives, safety products, chemicals, and other goods for consumers and businesses. 3M was incorporated in 1902 and is based in St. Paul, Minnesota.

DEAL STATS #
Overall 2 of 19
Sector (Life Science) 1 of 3
Type (Divestiture) 1 of 18
Country (Singapore) 1 of 1
Year (2006) 1 of 1
Size (of disclosed) 2 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-10-16 Brontes Technologies

Lexington, Massachusetts, United States

Brontes’ “real-time” 3-D intraoral imaging technology can quickly and conveniently scan both arches of the mouth and will provide an alternative to the traditional dental impression process. Brontes’ technology will capture 3-D digital data directly from the patient’s mouth and enable streamlining the production of a wide variety of dental restorations and appliances.

Buy $95M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-11-19 SoftMed Systems

Silver Spring, Maryland, United States

SoftMed Systems, Inc. offers healthcare information systems (HIM) for clinicians and healthcare facilities. It provides solutions related to disclosure management, secure access to patient information, managing transcription costs, solving coder shortages, and quality and resource management.

Buy -
Mergr

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