US-based particle engineering services frim Micron Technologies has been acquired in a private-equity backed management buyout.
Malvern, Pennsylvania US-headquartered Micron provides micronization services to drug developers that want to improve the bioavailability of their active pharmaceutical ingredients (API).
The firm operates an 84,000 square foot cGMP facility in Malvern and a 19,000 square foot cGMP facility in Dartford in the UK where it employs around 100 staff and offers jet milling, mechanical milling, containment processing and associated analytical services including material characterization testing and stability monitoring.
The management takeover – financial terms of which were not disclosed was supported by Arlington Capital Partners, the Washington DC-based private equity investment group that has been involved in a number of similar deals.
In 2007, for example, Arlington supported a management buyout by the executive team of Massachusetts-based contract manufacturing organisation (CMO) Cambridge Major Labs (CML)
Arlington sold CML to another investment group – American Capital – earlier this year in a deal Neal McCarthy from Fairmount Partners – the broker that represented Micron – called a “classic success story.”
McCarthy told in-Pharmatechnologist.com that: “They sold the business to American Capital recently, and it was a great success for the owners and the clients and employees, and the management will stay with the business and continue to grow it.
“We represented Micron and selected Arlington partly because of their great track record in supporting growing companies, and partly because of their focus and expertise in pharmaceutical services.
He also flagged up another Arlington company – Advanced Health Media – as one to watch, suggesting that the investment group is building the regulatory compliance management systems and sales logistics services firm’s business in a similar manner.