M&A Deal Summary

Lonza Acquires Capsugel Belgium NV

On December 15, 2016, Lonza acquired life science company Capsugel Belgium NV from KKR and HarbourVest Partners for 5.5B USD

Acquisition Highlights
  • This is Lonza’s 6th transaction in the Life Science sector.
  • This is Lonza’s largest (disclosed) transaction.
  • This is Lonza’s 1st transaction in France.

M&A Deal Summary

Date 2016-12-15
Target Capsugel Belgium NV
Sector Life Science
Buyer(s) Lonza
Sellers(s) KKR
HarbourVest Partners
Deal Type Add-on Acquisition
Deal Value 5.5B USD
Advisor(s) Goldman Sachs (Financial)
Simpson Thacher & Bartlett (Legal)

Target

Capsugel Belgium NV

Colmar, France
Capsugel Belgium NV is a provider of hard capsules and an innovator in drug delivery systems for the pharmaceutical, OTC and health and nutrition industries. Capsugel offers a comprehensive array of products and services, from hard gelatin, vegetarian and liquid-filled capsules, to innovative R&D equipment and liquid formulations as part of its Licaps Drug Delivery System.

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Buyer(S) 1

Buyer

Lonza

Basel, Switzerland

Category Company
Founded 1897
Sector Life Science
Employees18,000
Revenue 6.7B CHF (2023)
DESCRIPTION
Lonza plant located in Portsmouth, New Hampshire.
Lonza plant located in Portsmouth, New Hampshire.

Lonza is a global company that focuses on the life sciences sector, offering products and services for the pharmaceutical, biotech, and nutrition markets. Their portfolio spans across biopharmaceutical development and manufacturing, consumer health, nutrition, microbial control solutions, and custom manufacturing of specialty chemicals. Lonza was founded in 1897 and is based in Basel, Switzerland.


DEAL STATS #
Overall 11 of 11
Sector (Life Science) 6 of 6
Type (Add-on Acquisition) 9 of 9
Country (France) 1 of 1
Year (2016) 3 of 3
Size (of disclosed) 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-12-07 Lonza Group AG - Peptides Business and Operations

Braine-l'Alleud, Belgium

Lonza Group AG - Peptides Business and Operations is a provider of healthcare services in Belgium.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-01 Sigura

Alpharetta, Georgia, United States

Sigura is a provider of water treatment solutions for residential pool care and industrial water care. The Company has six production facilities in North America, South America, and EMEA, with sales locations globally.

Sell $630M

Seller(S) 2

SELLER

KKR

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1976
PE ASSETS 267.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
KKR's office in Menlo Park, California.
KKR's office in Menlo Park, California.

KKR is a global investment firm founded by Jerome Kohlberg, Henry Kravis, and George Roberts. The Firm is separated into several business segments including private markets, public markets, capital markets, and other principal activities. KKR's private equity practice invests in management buyouts, take privates, corporate divestitures, industry consolidations, and partnerships with family-owned companies. KKR will invest in a broad range of industries and companies and will consider businesses throughout North America, Europe, Asia, and Australia/New Zealand. Sectors of interest include chemicals, consumer products, energy and natural resources, financial services, healthcare, industrial, media/communications, retail, and technology. In addition to its traditional principal investment activity business, KKR also invests in infrastructure assets. KKR was formed in 1976 and is based in New York, New York.


DEAL STATS #
Overall 89 of 207
Sector (Life Science) 5 of 8
Type (Add-on Acquisition) 32 of 67
Country (France) 5 of 9
Year (2016) 12 of 12
Size (of disclosed) 10 of 39
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-12-13 Apple Leisure Group

Newtown Square, Pennsylvania, United States

Apple Leisure Group is a vertically integrated travel and hospitality company focused on packaged travel and resort/brand management in Mexico and the Caribbean. Apple Leisure Group was founded in 1969 and is based in Newtown Square, Pennsylvania.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-01-01 Ajax Health

Menlo Park, California, United States

Ajax focuses on accelerating innovative medical device technology opportunities that address significant unmet clinical needs. Ajax Health was formed in 2017 and is based in Menlo Park, California.

Buy -
SELLER

HarbourVest Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1978
PE ASSETS 86.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

HarbourVest Partners, LLC is an investment firm that makes investments in new private equity partnerships, acquires secondary interests, and makes direct investments in operating companies. HarbourVest's largest investment area is investments in private equity funds, comprising of approximately 2/3 of HarbourVest's assets. HarbourVest's direct investment group looks for investments in growth oriented businesses at a variety of stages. The Group generally targets co-investments of $5 to $100 million, growth capital financings of $5 to $40 million, or mezzanine commitments of $5 to $20 million. Sectors of interest include software, hardware, data communications, telecommunications, and financial services. HarbourVest was formed in 1997 to assume the business of Hancock Venture Partners which was formed in 1982. HarbourVest Partners is based in Boston, Massachusetts, with additional offices in London, Tokyo, and Hong Kong.


DEAL STATS #
Overall 80 of 134
Sector (Life Science) 4 of 5
Type (Add-on Acquisition) 30 of 58
Country (France) 2 of 3
Year (2016) 8 of 8
Size (of disclosed) 8 of 40
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-12-01 D4C Dental Brands

Atlanta, Georgia, United States

D4C Dental Brands cares children’s oral health. D4C Dental Brands focus on supporting high quality patient care and their commitment to raising the standard in children’s oral health. The company exclusively supporting Pediatric and Orthodontic Practices. D4C Dental Brands is based in Atlanta, Georgia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-01-06 Partners Surgical

Houston, Texas, United States

Partners Surgical is a multi-specialty ambulatory surgery center (ASC) management company focused on acquiring, developing, and managing high-acuity surgery centers across the United States. Partners Surgical was established in 2015 and is based in Houston, Texas.

Buy -