Activa Sells Delpharm

Activa Capital has sold Delpharm, a French pharmaceutical contract manufacturer, to company management, which is being backed by Acto Mezzanine. No financial terms were disclosed. Rothschild & Cie ran the sale process. Activa originally invested in Delpharm in April 2004, as part of its spinout from Laboratories Aguettant. www.activacapital.com