H.I.G. Capital (“H.I.G.”), a prominent global alternative investment firm with $65 billion in capital under management, has successfully sold its portfolio company, BIOVECTRA Inc. (“BIOVECTRA” or the “Company”), a leading contract development and manufacturing organization (CDMO) specializing in active pharmaceutical ingredients and intermediates, to Agilent Technologies, Inc. (NYSE: A) for a purchase price of $925 million.
“The BIOVECTRA team has consistently excelled in executing value-added strategic initiatives. We have been proud to support them in becoming a leader in the pharma CDMO sector, and we believe Agilent is a top-tier organization that will help BIOVECTRA reach even greater heights,” stated Mike Gallagher, Managing Director at H.I.G.
About BIOVECTRA
Based in Charlottetown, Prince Edward Island, Canada, BIOVECTRA employs approximately 650 people across eight facilities, totaling over 270,000 square feet. The Company specializes in producing biologics, highly potent active pharmaceutical ingredients, and other molecules for targeted therapeutics.
H.I.G. acquired BIOVECTRA in November 2019, successfully establishing it as an independent entity. The firm supported the strengthening of the executive management team, the completion of three major facility build-outs, and significant growth in the sales pipeline, refocusing the Company’s business profile towards commercial products. These strategic initiatives have resulted in outstanding shareholder outcomes.
Oliver Technow, CEO of BIOVECTRA, commented, “Today’s announcement reflects the strong reputation BIOVECTRA has developed as a trusted partner to our esteemed clients and our commitment to expanding our service offerings to better serve patients. We are grateful for H.I.G.’s support over the past five years and look forward to further success with Agilent.”
Scott Zhu, Managing Director at H.I.G., added, “It has been a privilege to work alongside Oliver and the BIOVECTRA team. Their dedication has driven exceptional growth, and we are proud to have played a role in enhancing their capabilities during this crucial phase. We anticipate their continued success.”
Moelis & Company LLC, Morgan Stanley & Co. LLC, and RBC Capital Markets, LLC served as financial advisors to H.I.G.
About BIOVECTRA
BIOVECTRA is a contract development and manufacturing organization that produces key ingredients for branded drugs treating a wide range of complex diseases. With over 650 employees and facilities in Charlottetown and Nova Scotia, the Company is designed to support clients from early clinical development through to scale-up and commercial manufacturing. For more information, visit biovectra.com.
About H.I.G. Capital
H.I.G. Capital is a leading global alternative investment firm with $65 billion in capital under management. Based in Miami, H.I.G. has offices in several major U.S. cities as well as international affiliate offices across Europe, Latin America, and Asia. The firm focuses on providing both debt and equity capital to middle-market companies, employing a flexible and operationally focused approach. Since its founding in 1993, H.I.G. has invested in and managed over 400 companies worldwide, with its current portfolio comprising more than 100 companies generating over $53 billion in combined sales. For more information, visit hig.com.
