RoundTable’s Renaissance sells topical drug division to Mylan

Renaissance Acquisition Holdings, LLC, a portfolio company of RoundTable Healthcare Partners, agreed to sell its topical pharmaceutical division to Mylan N.V. for $950 million in cash at closing. Additional contingency payments could total $50 million. Mylan is a global generic and specialty pharmaceutical company. Private equity firm RoundTable focuses exclusively on the health-care industry and started Renaissance in 2010 following a pair of acquisitions.

Press Release

RoundTable Healthcare Partners, an operating-oriented private equity firm focused exclusively on the health-care industry, announced today that its portfolio company Renaissance Acquisition Holdings, LLC (“Renaissance”) has entered into a definitive agreement to sell its topical pharmaceutical business (the “Topical Division”) to Mylan N.V. (“Mylan”), a leading, global generic and specialty pharmaceutical company, for $950 million in cash at closing, plus additional contingent payments of up to $50 million, subject to customary adjustments.  The closing is conditional on regulatory approval and other customary closing conditions.

The Topical Division of Renaissance is a fully-integrated, specialty pharmaceutical business focused on the manufacture, development, sales and marketing of branded and generic topical pharmaceutical products.  RoundTable started Renaissance in 2010 when it acquired two leading contract manufacturing and development organizations, Confab Laboratories, based inMontreal, and DPT Laboratories, based in San Antonio, Texas.  Through significant investments in senior leadership talent, product acquisitions, research & development, capital expenditures, the creation of a dermatology salesforce and the development of a pipeline of over two dozen topical ANDAs and NDAs,  Renaissance has developed into one of the largest, privately-held, vertically-integrated specialty pharmaceutical companies in the topicals/dermatology market in North America.

“On behalf of RoundTable, I would like to thank the outstanding management team and dedicated employees of Renaissance for creating a leading specialty pharmaceutical company,” said Pierre Frechette, Senior Operating Partner at RoundTable and the Chairman of the Board of Renaissance.  “We believe Mylan is an excellent strategic partner for this business, its employees and customers going forward.”

As part of this transaction, Renaissance will continue to own and operate its sterile-focused specialty pharmaceutical business with development and manufacturing facilities in Lakewood, New Jersey.

Deutsche Bank Securities Inc. acted as exclusive financial advisor to Renaissance.  Sidley Austin LLP acted as lead legal counsel to RoundTable.

About RoundTable Healthcare Partners

RoundTable Healthcare Partners, based in Lake Forest, IL, is an operating-oriented private equity firm focused exclusively on the healthcare industry. RoundTable partners with companies that can benefit from its extensive industry relationships and proven operating and transaction expertise. RoundTable has established a successful track record of working with owner/founders, family companies, management teams, entrepreneurs and corporate partners who share a vision and believe in the value creation potential of its partnership model. RoundTable has raised $2.75 billion in committed capital, including four equity funds totaling $2.15 billion and three subordinated debt funds totaling $600 million. More information about RoundTable Healthcare Partners can be found at www.roundtablehp.com.

SOURCE RoundTable Healthcare Partners

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