Permira Funds acquires Cambrex in $2.4bn deal

By Vassia Barba contact

- Last updated on GMT

(Image: Getty/YurolaitsAlbert)
(Image: Getty/YurolaitsAlbert)

Related tags: Cambrex, acquisition, CDMO, Contract manufacturing organisation

Cambrex is acquired by an affiliate of Permira Funds for $2.4bn, and will continue investing ‘aggressively’ to support its global customer base.

New Jersey, US-based contract development and manufacturing organisation (CDMO) Cambrex announced the $2.4bn (€2.14bn) agreement.

Under the agreement, Cambrex’ shareholders will receive $60.00 in cash for each share of Cambrex common stock, which represents a 47.1% premium to the August 6 closing stock price.

Cambrex CEO Steve Klosk said in a statement: ”We are excited to announce this transaction with Permira, a global private equity firm that has made significant investments in the pharma services space. This agreement is a strong endorsement of our strategy and represents significant value for our shareholders.”

Cambrex is not providing any additional comment, though a spokesperson said the company “will continue to assess the needs of the market.”

“Cambrex will continue to invest aggressively in our commitment to our global customer base, where we are constantly looking at ways to provide the broadest possible range of world class services,”​ said Klosk.

The transaction is expected to close by the end of the year.

The global investment firm Permira Funds owns a total capital of approximately $48bn (€41.5bn) and has made over 250 private equity investments, including its recent acquisition of LSNE​, a New Hampshire, US-based CDMO, and Quotient Sciences​, a CDMO based in Nottingham, UK.

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