M&A Deal Summary

Kohlberg & Company, Mubadala Capital, AIMCo, Bain Capital Private Equity and Partners Group Acquire PCI Pharma Services

On August 24, 2020, private equity firm Kohlberg & Company, sovereign wealth fund Mubadala Capital, pension AIMCo, private equity firm Bain Capital Private Equity and asset manager Partners Group acquired life science company PCI Pharma Services from Partners Group

Acquisition Highlights
  • This is Kohlberg & Company’s 1st, Mubadala Capital’s 1st, AIMCo’s 1st, Bain Capital Private Equity’s 12th and Partners Group’s 2nd transaction in the Life Science sector.
  • This is Kohlberg & Company’s 67th, Mubadala Capital’s 4th, AIMCo’s 10th, Bain Capital Private Equity’s 101st and Partners Group’s 23rd transaction in the United States.
  • This is Kohlberg & Company’s 3rd, Mubadala Capital’s 1st, AIMCo’s 1st, Bain Capital Private Equity’s 9th and Partners Group’s 3rd transaction in Pennsylvania.

M&A Deal Summary

Date 2020-08-24
Target PCI Pharma Services
Sector Life Science
Buyer(s) Kohlberg & Company
Mubadala Capital
AIMCo
Bain Capital Private Equity
Partners Group
Sellers(s) Partners Group
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) 5

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 68 of 81
Sector: Life Science M&A 1 of 3
Type: Secondary Buyout M&A Deals 23 of 35
State: Pennsylvania M&A 3 of 4
Country: United States M&A 67 of 80
Year: 2020 M&A 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-06-29 GPRS

Maumee, 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 Maumee, Ohio.

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

New Hyde Park, 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 New Hyde Park, 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 44
Sector: Life Science M&A 1 of 2
Type: Secondary Buyout M&A Deals 4 of 15
State: Pennsylvania M&A 1 of 2
Country: United States M&A 4 of 12
Year: 2020 M&A 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

AIMCo

Investor Investor Investor Investor Investor


Category Pension
Founded 2008
PE ASSETS 179.6B CAD
Size Mega
Type Sector Agnostic
DESCRIPTION

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 23 of 40
Sector: Life Science M&A 1 of 3
Type: Secondary Buyout M&A Deals 10 of 15
State: Pennsylvania M&A 1 of 2
Country: United States M&A 10 of 22
Year: 2020 M&A 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 -
Buyer

Bain Capital Private Equity

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1984
PE ASSETS 44.2B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Bain Capital Private Equity (BCPE), is the private equity investment arm of alternative asset management firm, Bain Capital. BCPE targets leveraged buyout and growth capital transactions in a wide variety of industries including information technology, communications, media, healthcare, industrial/manufacturing, retail/consumer, and financial services. Bain Capital is based in Boston with additional offices in New York, London, Mumbai, Hong Kong, Shanghai, Tokyo, and Munich.


DEAL STATS #
Overall 190 of 251
Sector: Life Science M&A 12 of 13
Type: Secondary Buyout M&A Deals 48 of 75
State: Pennsylvania M&A 9 of 10
Country: United States M&A 101 of 130
Year: 2020 M&A 4 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-08-13 Vertafore

Denver, Colorado, United States

Vertafore, Inc. is a cloud-based software that provides agency management, compliance, workflow, and data solutions that simplify and automate the complex property and casualty (“P&C”) insurance lifecycle. More than 20,000 agencies and 1,000 insurance carriers rely on Vertafore to streamline their processes, improve efficiency, and drive productivity. Vertafore, Inc. was founded in 1969 and is based in Denver, Colorado.

Sell $5.4B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-08-27 Nutanix

San Jose, California, United States

Nutanix provides an enterprise cloud platform that converges traditional silos of server, virtualization and storage into one integrated solution and can also connect to public cloud services. Nutanix was founded in 2009 and is based in San Jose, California.

Buy -
Buyer

Partners Group

Investor Investor Investor Investor Investor


Category Asset Manager
Founded 1996
PE ASSETS 174.0B USD
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 67 of 97
Sector: Life Science M&A 2 of 4
Type: Secondary Buyout M&A Deals 34 of 53
State: Pennsylvania M&A 3 of 4
Country: United States M&A 23 of 39
Year: 2020 M&A 4 of 7
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

Cote Restaurants is a restaurant businesses, 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. Cote Restaurants was founded in 2007 and is based in London, England.

Buy -

Seller(S) 1

SELLER

Partners Group

Investor Investor Investor Investor Investor


Category Asset Manager
Founded 1996
PE ASSETS 174.0B USD
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 17 of 38
Sector: Life Science M&A 1 of 1
Type: Secondary Buyout M&A Deals 9 of 17
State: Pennsylvania M&A 2 of 2
Country: United States M&A 8 of 13
Year: 2020 M&A 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

Cote Restaurants is a restaurant businesses, 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. Cote Restaurants was founded in 2007 and is based in London, England.

Buy -