From Invascent’s India Life Sciences Fund III, New York Life Investment Management Jacob Ballas India Fund III, and affiliates of the company’s founding Shah family, US private equity firm Platinum Equity has acquired a controlling stake in the core Oral Solid Dosage ( OSD ) business.
A majority stake in Inventia is still owned by the Shah home. Invengene and Nutriventia, the injectables and nutraceuticals companies, respectively, are certainly part of the transaction and are being retained differently by the Shah home, according to an August 30 press release.  ,
The acquisition’s financial details and the stake’s length were not made public.
Inventia, which has its headquarters in Mumbai, was cofounded in 1985 by the late president and managing director Janak Shah and Maya Shah, both of whom are now senior directors. For both ordinary and value-added pharmaceuticals, Inventia has around 100 customers who supply both semi-finished and finished OSD formulas. Inventia’s colleagues include global and local medicine companies that sell in more than 40 countries across North America, South America, Europe, Southeast Asia, Middle East and Africa.
In Maharashtra, India, Inventia runs a manufacturing facility in Ambernath and a research and development center in Thane. The company’s manufacturing platform is accredited by the US Food and Drug Administration ( FDA ), the UK’s Medicines and Healthcare products Regulatory Agency ( MHRA ) and other , regulatory authorities.
” This investment represents a significant milestone in the evolution of Inventia. We are thrilled to discover Platinum Equity’s expense in our main OSD company, said Maya Shah and the later Janak Shah in a joint statement due to Janak Shah’s new departure.
They added:” This relationship will funnel Inventia’s advantages and Platinum’s operational knowledge to force us to new levels. We are firmly committed to our vision, and we are assured that this partnership will encourage further development and innovation. Our vision for Inventia has always been to deliver high-quality, available medical items, and with Platinum Equity, we believe this vision will only increase stronger”.
The Asia funding team at Platinum Equity, based in Singapore, is tasked with leading the acquisition.
In a statement, Platinum Equity managing director Amit Sobti stated,” We believe Inventia is a solid platform for development in a fragmented industry, and our goal is to create a larger, more developed B2B firm focused on the beautiful but underprivileged emerging industry.”  ,
By bringing in our operational and financial resources to further institutionalize the organization and set it up for success on a substantially greater range, Sobti continued,” We are excited to develop upon the strong base set by the Shah home.” Inventia’s existing product pipeline you generate strong healthy growth over the near future, which we will look to enhance through acquisitions, with an emphasis on broadening the company’s product portfolio and capabilities”.
Kotzubei stated that Platinum Equity will continue to look for platform deals in India that are appropriate for the company’s investment strategy in addition to looking for Inventia add-ons.
There are more opportunities available today that fit our approach, he explained, and the buyout market in India is continuing to evolve. ” There are more mature businesses with a greater need for operational support, including founders or family-owned businesses looking for a partner who can provide both operational expertise and capital. We have a lot of experience in those situations”.
Platinum Equity’s exclusive financial advisor on the transaction was Barclays. Trilegal and Lacham Watkins acted as India legal counsel for Platinum Equity while Austin Watkins was their international attorney. Kirkland &, Ellis provided financing counsel to Platinum Equity on the transaction.
Rothschild &, Co and Stifel Nicolaus India ( formerly Torreya Partners ) served as financial advisers to the sellers. Quillon Partners provided legal counsel to the sellers during the transaction.
FinanceAsia has reached out for more information.
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