Arlington Capital Partners has sold biopharmaceutical company Micron Technologies Inc. to Catalent Pharma Solutions. Details of the transaction were not disclosed.
Arlington Capital Partners, a Washington, DC based private equity firm, is pleased to announce the sale of its healthcare portfolio company Micron Technologies, Inc. (“Micron” or the “Company”) to Catalent Pharma Solutions, Inc. (NYSE:CTLT) (“Catalent”).
“Management worked tirelessly to achieve upon the strategy we developed together at the beginning of our investment, and the successful sale of the business is truly a testament to their steadfast work.”
Micron is a leading global provider of particle size engineering technologies for bioavailability enhancement of pharmaceuticals. Micron maintains state of the art facilities and industry leading expertise in micronization, including advanced containment processing for highly potent compounds, as well as associated analytical services including material characterization and stability monitoring.
Matthew Altman, a Partner at Arlington Capital, said, “Micron is a trusted partner to global pharma and a strategic provider of critical solubility enhancement services for many of the industry’s leading commercial pharmaceuticals and drug candidates. The ability of the Micron team to develop, and capitalize on, the Company’s strategic position at the beginning of the drug formulation pathway produced tremendous growth, and enabled this highly successful transaction.”
“Arlington invested significant resources and capital into Micron, including increasing the Company’s technological capabilities, capacity and significantly expanding the salesforce,” said David Wodlinger, a Principal at Arlington Capital. “Management worked tirelessly to achieve upon the strategy we developed together at the beginning of our investment, and the successful sale of the business is truly a testament to their steadfast work.”
Joseph Drost, Micron Technologies’ Chief Executive Officer, said, “During our partnership with Arlington, Micron posted record growth and profitability, brought new capabilities to market, and significantly invested in our people. Arlington’s strategic counsel and capital support during this remarkable time has been a great asset. The future looks very bright and we are very pleased to be joining Catalent as we seek to continue to build upon our success.”
Fairmount Partners represented Micron on the transaction. Greenberg Traurig LLP provided legal counsel to the Company.
About Arlington Capital Partners:
Arlington Capital Partners is a Washington, D.C.-based private equity firm with over $1.5 billion of capital under management focused on middle market investment opportunities in growth industries including: healthcare services, aerospace/defense, government services, software and business services. The firm’s professionals and network have a unique combination of operating and private equity experience that enables Arlington to be a value-added investor. Arlington invests in companies in partnership with high quality management teams that are motivated to establish and/or advance their company’s position as leading competitors in their field. www.arlingtoncap.com
About Micron Technologies, Inc.:
Micron Technologies is a leading global provider of particle size engineering technologies for the pharmaceutical industry. Micron Technologies has helped overcome bioavailability, stability and manufacturability challenges across hundreds of oral and inhaled drugs for over 25 years through its leading, proven and versatile portfolio of particle size reduction, micronization and milling technologies. For more information, visit www.microntech.com