Tailwind looks to exit generic-drug maker VersaPharm after six years

generic drugs

Tailwind Capital, which is out fundraising, has put VersaPharm up for sale, two sources said.

It is unclear how much Tailwind Capital is seeking for the generic-drug maker.

Tailwind Capital acquired VersaPharm in 2007. Five years later, in late 2012, the firm completed a $60 million dividend recap of the company, according to Thomson Reuters Loan Pricing Corp.

Marietta, Georgia-based VersaPharm develops generic products designed to treat tuberculosis and other infectious diseases, the Tailwind Capital website said.

News of the sale comes as Tailwind Capital is out fundraising for its second pool. The private equity firm is seeking $750 million for Tailwind Capital Partners II LP, according to an October SEC filing. Mvision is the placement agent.

New York-based Tailwind Capital spun off in 2006 from Thomas Weisel Partners, the San Francisco-based investment bank. The firm targets middle-market companies in healthcare and business and communication services.

Last year, Doug Karp, a Tailwind Capital co-founder and managing partner, left the firm as it prepared to raise its second fund.

The firm collected $775 million for its inaugural vehicle in 2008. Fund I was generating a net IRR of 12.7 percent as of September 30, according to backer California Public Employees’ Retirement System.

Executives for Tailwind Capital and VersaPharm did not return calls for comment.

Photo courtesy of Shutterstock

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