PAG, a number one Asia-focused private equity firm, has acquired a controlling stake in Acme Formulation, a number one contract growth and manufacturing outsourcing (CDMO) firm with a give attention to complicated pharmaceutical merchandise, mentioned an organization assertion.
PAG will make investments $145 million (Rs1,054 crore) to amass a controlling stake within the firm. Based in 2005 by Viral Shah, Acme offers contract growth and manufacturing providers to main Indian and world pharmaceutical firms.
The agency focuses on merchandise equivalent to sterile injectables, hormones, and different complicated oral stable formulations.
Shah will retain a major minority stake within the firm and proceed as managing director and CEO of Acme, added the assertion.
“Acme has an excellent popularity for high-quality manufacturing, in addition to a number one presence in enticing markets together with sterile injectables,” mentioned Nikhil Srivastava, Accomplice and Managing Director, Head of India non-public fairness at PAG.
PAG is presently investing out of its $6 billion PAG Asia III buyout fund.
PAG’s newest offers embrace investments in Edelweiss Wealth Management, and Anjan Drug, producer of lively pharmaceutical elements (APIs).