M&A Deal Summary

Novartis Acquires Fougera Pharmaceuticals

On May 2, 2012, Novartis acquired life science company Fougera Pharmaceuticals from Nordic Capital, Avista Healthcare Partners and aPriori Capital Partners for 1.5B USD

Acquisition Highlights
  • This is Novartis’ 6th transaction in the Life Science sector.
  • This is Novartis’ 7th largest (disclosed) transaction.
  • This is Novartis’ 8th transaction in the United States.
  • This is Novartis’ 2nd transaction in New York.

M&A Deal Summary
Date 2012-05-02
Target Fougera Pharmaceuticals
Sector Life Science
Buyer(s) Novartis
Sellers(s) Nordic Capital
Avista Healthcare Partners
aPriori Capital Partners
Deal Type Add-on Acquisition
Deal Value 1.5B USD
Advisor(s) Rothschild Global Advisory
Credit Suisse Investment Banking (Financial)

Target

Fougera Pharmaceuticals

Melville, New York, United States
Fougera Pharmaceuticals Inc. operates two primary divisions in the US focused on specialty pharmaceuticals in dermatology: Fougera, its generic dermatology medicines business, and PharmaDerm, its branded dermatology business. Founded in 1849, the Fougera division is the leading manufacturer and distributor of a wide range of topical products. The PharmaDerm division is dedicated to developing and commercializing novel prescription products to treat diseases and conditions of the skin – the largest organ of the human body.

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Buyer(S) 1

Buyer

Novartis

Basel, Switzerland
Category Company
Founded 1996
Sector Life Science
Employees104,323
Revenue 46.7B USD (2023)
DESCRIPTION
Novartis' corporate campus in Basel, Switzerland.
Novartis' corporate campus in Basel, Switzerland.

Novartis is a global healthcare and pharmaceutical enterprise dedicated to advancing medical innovation and enhancing patient well-being. Renowned for its pioneering research and development efforts, Novartis has a comprehensive portfolio encompassing groundbreaking pharmaceuticals, generic medications, biosimilars, and eye care solutions. Novartis was founded in 1996 and is based in Basel, Switzerland.

DEAL STATS #
Overall 8 of 32
Sector (Life Science) 6 of 26
Type (Add-on Acquisition) 6 of 28
State (New York) 2 of 2
Country (United States) 8 of 24
Year (2012) 1 of 2
Size (of disclosed) 7 of 17
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-03-04 Genoptix

Carlsbad, California, United States

Genoptix, Inc. is one of the largest hematopathology testing laboratories in the U.S., providing thousands of oncologists and pathologists across the United States with comprehensive testing solutions in hematology and solid tumor molecular profiling. Genoptix, Inc. was founded in 1999 and is based in Carlsbad, California.

Buy $470M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-12-17 Vivacta

Sittingbourne, United Kingdom

Vivacta Limited is a medical diagnostic company developing proprietary sensors and readers for rapid, point-of-care (PoC) testing. The company is applying piezofilm technology to achieve extremely high sensitivity and wide dynamic range for a new generation of diagnostic products adapted to near-patient testing and has generated an independent intellectual property position comprising over 15 patent families.

Buy $90M

Seller(S) 3

SELLER

Nordic Capital

Stockholm, Sweden

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1989
PE ASSETS 31.0B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

Nordic Capital is a private equity investment firm that targets mid to large-sized company investments located in Northern Europe as well as the US. Nordic seeks investments across a wide range of industries and prefers situations where there are 'opportunities for new industrial combinations, strategic repositioning, international expansion and operational improvements'. Nordic Capital was formed in 1989 and is based in Stockholm, Sweden.

DEAL STATS #
Overall 36 of 79
Sector (Life Science) 4 of 6
Type (Add-on Acquisition) 15 of 24
State (New York) 1 of 1
Country (United States) 2 of 3
Year (2012) 2 of 3
Size (of disclosed) 5 of 17
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-04-30 Chromaflo Technologies

Ashtabula, Ohio, United States

Chromaflo Technologies is a supplier of colorant systems, chemical and pigment dispersions, serving customers in architectural and industrial coatings as well as the thermoset composites market. Chromaflo Technologies was founded in 2012 and is based in Ashtabula, Ohio.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-05-21 SPORT-MASTER

Ballerup, Denmark

SPORT-MASTER has developed into Denmark's leading chain of sporting goods retailers. With around 100 shops and approximately 1,000 employees across Denmark, SPORT-MASTER has a strong concept and a nationwide network of well-assorted shops. SPORT-MASTER benefits from growing consumer demand for sportswear and equipment in an active leisure life. SPORT-MASTER was founded in 1979 and is based in Ballerup, Denmark.

Buy -
SELLER

Avista Healthcare Partners

New York, New York, United States
Category Private Equity Firm
Founded 2005
PE ASSETS 8.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

Avista Capital Partners is a private investment firm formed by a group of professionals with roots from DLJ Merchant Banking Partners. Avista makes controlling and minority investments in US based energy, healthcare, and media companies with revenues greater than $25 million. Typical transactions include leverage buyouts, build-ups, and growth capital financings. Avista Capital was formed in 2005 and is based in New York City with an additional office in Houston, Texas.

DEAL STATS #
Overall 10 of 30
Sector (Life Science) 2 of 7
Type (Add-on Acquisition) 6 of 15
State (New York) 1 of 1
Country (United States) 8 of 24
Year (2012) 3 of 4
Size (of disclosed) 3 of 11
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-01-31 BioReliance

Rockville, Maryland, United States

BioReliance provides critical services that include biologic, specialized toxicology and animal health testing to pharmaceutical, biopharmaceutical, diagnostics, and other life science customers worldwide.

Sell $350M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-08-03 InvestorPlace Media

Rockville, Maryland, United States

InvestorPlace Media is the leading provider of subscription-based investment advisory services to the individual investor.

Buy -
SELLER

aPriori Capital Partners

Investor Investor Investor

Category Private Equity Firm
Founded 1985
PE ASSETS 2.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

aPriori Capital Partners (formerly DLJ Merchant Banking Partners) is a middle-market private equity firm focused on middle-market buyouts in the US and Europe. Sectors of interest include healthcare, retail, consumer, energy, business services, and industrial. aPriori was originally established in 1985 and has offices in New York and Los Angeles.

DEAL STATS #
Overall 36 of 51
Sector (Life Science) 8 of 9
Type (Add-on Acquisition) 16 of 22
State (New York) 2 of 3
Country (United States) 29 of 38
Year (2012) 2 of 3
Size (of disclosed) 9 of 21
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-03-08 RathGibson

Lincolnshire, Illinois, United States

RathGibson, Inc. is a manufacturer of high–performance welded austenitic stainless steel and specialty alloy tubing. RathGibson tubing is chosen where strength, durability and resistance to heat and corrosion are crucial. Representative end uses occur in industries such as oil and gas production and exploration, power generation, food and dairy, pharmaceuticals, biotechnology, petrochemicals and semiconductors.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-05-03 EverBank

Jacksonville, Florida, United States

EverBank provides full-service, nationwide banking and lending services to consumer, commercial and institutional clients through a variety of channels, including online, its Florida-based financial centers and at other business offices throughout the country. EverBank is based in Jacksonville, Florida.

Sell -
Mergr

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