Advent International and Avista Capital Partners have agreed to buy Kremers Urban Pharmaceuticals for $1.525 billion. The transaction is expected to be completed by the first quarter of 2015. Credit Suisse Securities, Morgan Stanley, Goldman Sachs and Jefferies are providing the financing for the transaction as well as serving as financial advisors to Advent and Avista. Also, Avista’s Brian Markison has been named president and CEO of KU. He is succeeding George Stevenson, who is leaving KU to pursue other interests. KU is UCB’s generic subsidiary in the U.S.