Permira Funds Has Acquired Lyophilization Services of New England (“LSNE”)
May 10, 2017
Permira Funds (“Permira”), a global investment firm with total committed capital of approximately €32 billion ($35 billion), has acquired Lyophilization Services of New England, Inc. (“LSNE”), a leading contract development and manufacturing organization (“CDMO”) for the sterile finished dosage market, and a portfolio company of Clairvest Goup Inc. (“Clairvest”).
Permira retained Cain Brothers as a strategic advisor in connection with the transaction.
Founded in 1997, LSNE is a CDMO specializing in lyophilization and aseptic fill/finish services for pharmaceutical, biotechnology, and medical device companies. LSNE operates three cGMP facilities in New Hampshire and has an extensive track record of superior quality manufacturing for late stage clinical and commercial manufacturing. As part of the transaction, LSNE Founder and Chief Executive Officer Matt Halvorsen will continue to lead the company in his current role.
London-based Permira is a leading global private equity firm that received €7.5 billion of equity commitments in total for its most recent fund, Permira VI. The firm seeks to invest in middle-market and large-cap businesses, taking a majority or significant minority stake in its portfolio companies. Recent healthcare investments for Permira include Pantheon Healthcare Group, Atrium Innovations, Creganna Medical Group (acquired by TE Connectivity Ltd. in 2016), and Pharmaq (acquired by Zoetis Health in 2015).
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