New platform would combine seven European sites acquired from Recipharm with additional facilities in agreed transaction for Synerlab

Blue Wolf Capital Partners LLC, a middle market private equity firm specializing in the industrial and healthcare sectors, announced that it has finalized the acquisition of seven European pharmaceutical manufacturing facilities from Recipharm.

In Aprill 2024, Recipharm has announced that Blue Wolf Capital Partners, a US-based private equity firm, has committed, subject to regulatory clearances, to acquire seven of its sites: Solna, Strängnäs, Höganäs, Karlskoga and Uppsala OTC Development in Sweden; Pessac in France; and Parets in Spain. This announcement is a significant milestone for Recipharm colleagues at those sites, as they form a new organisation under the leadership of Peter Kruger, Group Managing Director.

In addition, Blue Wolf has also agreed, subject to regulatory clearances, to acquire Synerlab, a CDMO headquartered in Strasbourg, France, with six operating facilities in France and Spain. Synerlab has expertise in manufacturing and development across multiple dosage forms, in addition to niche technical processes such as freeze drying and liquid sterile finished dosage forms.

The two transactions mark a significant step forward in helping advance Blue Wolf's goal of building an industry-leading CDMO.

The proposed combined platform, to be headquartered in the UK, would have a manufacturing and employee footprint diversified across major Western European geographies and would serve as the cornerstone of a new best-in-class CDMO. Blue Wolf will support further growth with the goal of expanding the proposed platform's commercial reach to span across the entire European continent and beyond.

"The opportunity to acquire multi-site, full-service CDMO assets with a track record of delivering high-quality pharmaceutical manufacturing solutions is exciting, and we see significant growth potential in these facilities," said Shashank Patel, Principal at Blue Wolf. "We look forward to working together with our new partners in Europe to build a best-in-class CDMO focused on delivering outstanding service and exceptional high quality pharmaceutical products to customers and patients worldwide."

Blue Wolf expects to announce the new corporate name of this platform by the end of the year. Terms of the transaction were not disclosed. The Synerlab transaction is expected to close in Q4 2024, following regulatory approvals.

Blue Wolf also plans to name a new team of experienced pharmaceutical executives who will lead the proposed combined organization and serve on its board of directors. Bruce Vielle, Chief Executive Officer of Synerlab, is expected to serve as Chief Executive Officer of the future platform. "I am delighted and enthusiastic to bring the team from the seven Recipharm sites together with Synerlab to build a new CDMO platform," said Bruce Vielle, Chief Executive Officer of Synerlab. "By honoring both cultures, we will create an even stronger and more exciting one to serve our customers and patients."