Apax Partners has agreed to buy German pharmaceutical company Neuraxpharm Arzneimittel GmbH. The sellers are ATAX GmbH and Neuraxpharm Holding. No financial terms were disclosed for the deal that’s expected to be completed in the next few months.
PRESS RELEASE
LONDON, July 8, 2016 /PRNewswire/ — Funds advised by Apax Partners today announced that an entity controlled by them has entered into a definitive agreement to acquire neuraxpharm Arzneimittel GmbH, a leading German pharmaceutical company, from ATAX GmbH and Neuraxpharm Holding.
The transaction, which is subject to customary closing conditions, is expected to close in the next few months. Terms of the transaction were not disclosed.
Located in Langenfeld near Düsseldorf, neuraxpharm is a leader in generic pharmaceutical products for the treatment of disorders of the central nervous system (CNS). Founded in 1985, the company is a trusted brand for neurologists, psychiatrists, pharmacists and patients. It has a portfolio of 100 predominantly differentiated products to serve the needs of CNS patients.
Steven Dyson, Partner and Co-Head of Healthcare at Apax Partners, said: “We have identified the European generics space as an attractive investment area. After following neuraxpharm for a long time, we have been impressed by the company’s brand, quality reputation and track record of innovation in the CNS field. Our plan is to invest into the organic growth of neuraxpharm and to consolidate the European generics market, as evidenced by our recent announcement of a transaction with Spain’s Invent Farma.”
Dr. Thomas Strüngmann, Managing Director of ATAX GmbH, said: “We have been proud to support neuraxpharm during the last 6 years of our ownership and to have been part of its growth and development. We want to thank management and employees for their strong efforts and contribution, and wish neuraxpharm and its new owners all the best for its next phase of growth.”
About Apax Partners
Apax Partners LLP is a leading global private equity advisory firm. Over its more than 30 year history, Apax Partners has raised and advised funds with aggregate commitments of $38 billion*. Funds advised by Apax Partners invest in companies across four global sectors of Healthcare, Tech & Telco, Services and Consumer. These funds provide long-term equity financing to build and strengthen world-class companies. In the healthcare sector they have completed more than 80 investments, including in pharmaceuticals, medical devices and healthcare services. For further information about Apax Partners, please visit www.apax.com.
Apax Partners LLP is authorised and regulated by the FCA in the UK and is subject to the FCA’s rules and guidance. Apax Partners’ registered office is 33 Jermyn Street, London, SW1Y 6DN, UK.
About ATAX and Neuraxpharm Holding
ATAX and Neuraxpharm Holding are investment companies of the Strüngmann family in Germany.
* Funds raised since 1981, commitments converted from fund currency to USD at FX rates as at December 2015.
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