M&A Deal Summary

Kohlberg & Company, Mubadala Capital and Alberta Investment Management Acquire PCI Pharma Services

On August 24, 2020, private equity firm Kohlberg & Company, sovereign wealth fund Mubadala Capital and pension Alberta Investment Management acquired life science company PCI Pharma Services from Partners Group AG

Acquisition Highlights
  • This is Kohlberg & Company’s 1st, Mubadala Capital’s 1st and Alberta Investment Management’s 1st transaction in the Life Science sector.
  • This is Kohlberg & Company’s 67th, Mubadala Capital’s 4th and Alberta Investment Management’s 8th transaction in the United States.
  • This is Kohlberg & Company’s 3rd, Mubadala Capital’s 1st and Alberta Investment Management’s 1st transaction in Pennsylvania.

M&A Deal Summary
Date 2020-08-24
Target PCI Pharma Services
Sector Life Science
Buyer(s) Kohlberg & Company
Mubadala Capital
Alberta Investment Management
Sellers(s) Partners Group AG
Deal Type Secondary Buyout
Advisor(s) Jefferies (Financial)
Goodwin Procter (Legal)

Target

PCI Pharma Services

Philadelphia, Pennsylvania, United States
PCI Pharma Services is a provider of outsourced pharmaceutical supply chain solutions supporting biotechnology and pharmaceutical companies throughout the various stages of drug development and commercialization. PCI Pharma Services was founded in 2012 and is based in Philadelphia, Pennsylvania.

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Buyer(S) 3

Buyer

Kohlberg & Company

Mount Kisco, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1987
PE ASSETS 11.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Kohlberg & Company is a private equity firm which acquires middle-market companies with consistent cash flow, and underperforming companies with operational deficiencies. Kohlberg looks to commit $100 to $500 million of equity capital in opportunities valued from $200 million to $2 billion. Kohlberg generally looks for opportunities in the manufacturing and service sectors, however the Firm will also selectively consider businesses in food and healthcare. Kohlberg tends not to consider technology or communications companies. Kohlberg & Company was formed in 1987 and has offices in Mt. Kisco, New York.

DEAL STATS #
Overall 69 of 79
Sector (Life Science) 1 of 3
Type (Secondary Buyout) 23 of 32
State (Pennsylvania) 3 of 5
Country (United States) 67 of 77
Year (2020) 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-06-29 GPRS

Toledo, Ohio, United States

GPRS is a provider of private utility locating and concrete scanning services to utilities, contractors, engineering firms, and environmental consultants in every major market in the United States. GPRS was founded in 2001 and is based in Toledo, Ohio.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-10-01 Parts Authority

Rockville Centre, New York, United States

Parts Authority is an automotive aftermarket replacement parts distribution platform serving the do-it-for-me and do-it yourself e-commerce channels of the automotive aftermarket. Parts Authority was founded in 1972 and is headquartered in Rockville Centre, New York.

Buy -
Buyer

Mubadala Capital

Investor

Category Sovereign Wealth Fund
Founded 2002
PE ASSETS 276.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Mubadala Capital is a private equity firm focused on investing capital across a range of assets worldwide. The Firm primarily invests in private and public assets, but also considers credit, real estate, and alternatives. Mubadala invests in a variety of sectors including industrials, healthcare, energy, renewables, financial services, infrastructure, and business services. Mubadala Capital was founded in 2008 and is headquartered in Abu Dhabi, United Arab Emirates.

DEAL STATS #
Overall 13 of 43
Sector (Life Science) 1 of 2
Type (Secondary Buyout) 4 of 15
State (Pennsylvania) 1 of 2
Country (United States) 4 of 12
Year (2020) 3 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-07-22 Enviva

Bethesda, Maryland, United States

Enviva focuses on the acquisition, development, and operation of facilities that collect, process, and transform wood-based biomass into renewable energy feedstock, primarily wood pellets. Enviva was founded in 2013 and is based in Bethesda, Maryland.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-10-15 Enagas

Madrid, Spain

Enagas is the technical manager of the Spanish Gas System and the main carrier of natural gas in Spain. Enagas was founded in 1972 and is based in Madrid, Spain.

Buy -
Buyer

Alberta Investment Management

Investor Investor Investor Investor Investor

Category Pension
Founded 2008
PE ASSETS 4.5B CAD
Size Mega
Type Sector Agnostic
DESCRIPTION

Alberta Investment Management Corporation (AIMCo) is a Canadian diversified institutional investment manager serving pension, endowment and government funds in the province of Alberta. In addition to investing in public equities, fixed income, and debt, AIMCo looks to invest in private equity, real estate, timberlands, and infrastructure. AIMCo's private equity group invests in funds and directly in companies throughout North America and Western Europe. Areas of interest include consumer, industrials, business services, financial services, technology, and healthcare. AIMCo is based in Edmonton, with additional offices in Toronto and London.

DEAL STATS #
Overall 20 of 30
Sector (Life Science) 1 of 2
Type (Secondary Buyout) 10 of 12
State (Pennsylvania) 1 of 1
Country (United States) 8 of 15
Year (2020) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-12-26 Coastal GasLink

Vancouver, British Columbia, Canada

Coastal GasLink transports natural gas to the approved LNG Canada facility near Kitimat. Coastal GasLink Pipeline Project involves the estimated CAD $6.6 billion construction of 670 kilometers (416 miles) of the natural gas pipeline and associated facilities. Coastal GasLink is based in Vancouver, British Columbia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-11-17 sPower

Salt Lake City, Utah, United States

sPower is an independent power producer (IPP) that owns and/or operates more than 150 utility and commercial distributed electrical generation systems across the U.S. and the UK. With 4.0 gigawatts between operating, construction and pipeline, sPower are actively buying select utility-scale renewable assets in virtually any stage of development in the United States. sPower is based in Salt Lake City, Utah.

Sell -

Seller(S) 1

SELLER

Partners Group AG

Investor Investor Investor Investor Investor

Category Asset Manager
Founded 1996
Size Mega
Type Sector Agnostic
DESCRIPTION

Partners Group is a global investment management firm with a variety of funds and institutional clients. The Firm's direct investment group looks to invest in or acquire market leading companies with growth opportunities linked to technology. Partners is a hands-on investor and looks to actively support its portfolio companies with expansion, operational, and governance structure support. Partners Group was established in 1996 and is headquartered in Zug, Switzerland.

DEAL STATS #
Overall 15 of 25
Sector (Life Science) 1 of 1
Type (Secondary Buyout) 9 of 16
State (Pennsylvania) 2 of 2
Country (United States) 8 of 11
Year (2020) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-08-03 Murra Warra II

Australia

Murra Warra II is a 209MW wind farm project in Australia is expected to be completed by mid-2022. The wind farm will comprise 38 GE Cypress 5.5MW turbines with a total nameplate capacity of 209MW, located approximately 30 kilometers north of Horsham in the state of Victoria, next to Murra Warra I.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-09-28 Cote Restaurants

London, United Kingdom

Formed in 2007, Cote Restaurants is a fastest growing and innovative restaurant businesses in the UK, providing consistently high-quality, freshly-prepared food in a modern bistro inspired setting. The restaurants are committed to sourcing seasonal and high-quality ingredients, and to providing an exceptional dining experience for customers.

Buy -
Mergr

Product

Company

Legal