M&A Deal Summary

Olympus Partners Acquires PAI Pharma

On February 24, 2025, private equity firm Olympus Partners acquired life science company PAI Pharma from Enhanced Healthcare Partners, Bourne Partners Strategic Capital and Leavitt Equity Partners

Acquisition Highlights
  • This is Olympus Partners’ 1st transaction in the Life Science sector.
  • This is Olympus Partners’ 53rd transaction in the United States.
  • This is Olympus Partners’ 2nd transaction in South Carolina.

M&A Deal Summary

Date 2025-02-24
Target PAI Pharma
Sector Life Science
Buyer(s) Olympus Partners
Sellers(s) Enhanced Healthcare Partners
Bourne Partners Strategic Capital
Leavitt Equity Partners
Deal Type Secondary Buyout
Advisor(s) RBC Capital Markets
Bourne Partners Investment Banking (Financial)

Target

PAI Pharma

Greenville, South Carolina, United States
PAI Pharma manufactures and markets generic oral liquid pharmaceuticals in the USA. PAI has been at the forefront of producing high-demand, as well as hard-to-find, oral suspensions, solutions, elixirs, syrups, and liquids for over 50 years. Core product categories include analgesic pain relief, cough/cold and allergies, digestive and metabolic health, neurological disorders, and mental health, among many others. PAI Pharma was founded in 1968 and is based in Greenville, South Carolina.

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Buyer(S) 1

Buyer

Olympus Partners

Stamford, Connecticut, United States

Investor Investor Investor Investor


Category Private Equity Firm
Founded 1988
PE ASSETS 8.5B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Olympus Partners is a private equity group focused on investing in growth companies with strong management, and positions in their respective markets. The Firm will consider both venture capital and private equity investments and looks to commit $75 to $500 million per transaction. The Firm focuses its investment activities within the business services, healthcare, financial services, consumer, restaurant, software/IT services, and logistics/transportation industries. Olympus Partners was formed in 1988 and is based in Stamford Connecticut.


DEAL STATS #
Overall 55 of 55
Sector (Life Science) 1 of 1
Type (Secondary Buyout) 31 of 31
State (South Carolina) 2 of 2
Country (United States) 53 of 53
Year (2025) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2025-01-02 Accelevation

Miamisburg, Ohio, United States

Accelevation is a vertically integrated group of manufacturing companies serving the data center, electric vehicle, and robotic markets. Its primary product line includes hot-aisle and cold-aisle containment solutions for leading data center builders and operators. Accelevation was founded in 2018 and is based in Miamisburg, Ohio.

Buy -

Seller(S) 3

SELLER

Enhanced Healthcare Partners

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2005
PE ASSETS 1.0B USD
Size Middle-Market
Type Sector Focused
DESCRIPTION

Enhanced Healthcare Partners is a specialist private equity firm that invests in lower-middle market growth companies in the healthcare sector. The Firm seeks to invest $10 to $50 million per transaction and will consider a variety of transaction types, including buyouts, growth equity, and recapitalizations. Enhanced Healthcare Partners was formed in 2005 and is based in New York City.


DEAL STATS #
Overall 13 of 13
Sector (Life Science) 2 of 2
Type (Secondary Buyout) 6 of 6
State (South Carolina) 1 of 1
Country (United States) 13 of 13
Year (2025) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-11-11 Eventus WholeHealth

Concord, North Carolina, United States

Eventus WholeHealth is a provider of physician-led healthcare services for residents and patients of skilled nursing and assisted living facilities. Led by a highly-trained team of physicians, psychiatrists, nurse practitioners, physician assistants, psychotherapists, podiatrists, optometrists, audiologists, and support staff, Eventus WholeHealth’s comprehensive, evidence-based model provides collaborative interdisciplinary care with the seamless and vital integration of a wide range of specialties. Eventus WholeHealth was founded in 2014 and is based in Concord, North Carolina.

Sell -
DESCRIPTION

Bourne Partners Strategic Capital is the direct investment arm of financial advisory firm Bourne Partners. Strategic Capital looks to partner with other sponsors and management teams to pursue investment opportunities in the pharmaceutical and consumer health sectors. The Group targets a variety of investment situations and will consider transactions valued between $50 million and $1 billion. Bourne Partners Strategic Capital is based in Charlotte, North Carolina.


DEAL STATS #
Overall 2 of 2
Sector (Life Science) 2 of 2
Type (Secondary Buyout) 2 of 2
State (South Carolina) 1 of 1
Country (United States) 1 of 1
Year (2025) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-10-28 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.

Sell $1.4B
SELLER

Leavitt Equity Partners

Investor


Category Private Equity Firm
Founded 2014
PE ASSETS 400M USD
Size Middle-Market
Type Sector Focused
DESCRIPTION

Leavitt Equity Partners is the private equity arm of Leavitt Partners, a healthcare focused consulting firm. Leavitt looks to partner with and invest in growth-oriented healthcare services companies throughout the US. Leavitt Equity Partners was formed in 2014 and is headquartered in Salt Lake City, Utah.


DEAL STATS #
Overall 4 of 4
Sector (Life Science) 1 of 1
Type (Secondary Buyout) 2 of 2
State (South Carolina) 1 of 1
Country (United States) 4 of 4
Year (2025) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2025-01-13 Pediatrics Plus

Conway, Arkansas, United States

Pediatrics Plus is a specialized pediatric healthcare provider that utilizes a unique and innovative blended service model designed to deliver the best outcomes for children. Pediatrics Plus was founded in 2002 and is based in Conway, Arkansas.

Buy -