BC Partners Plans Sale of $1.8 Billion Pharma Firm Aenova

BC Partners is considering a sale of German pharmaceutical contract manufacturer Aenova, according to people familiar with the matter.

The private equity firm plans to seek a valuation of more than 1.5 billion euros ($1.8 billion) for the business, one of the people said. BC Partners is working with Rothschild & Co. to gauge interest in Aenova, which could draw interest from buyout firms and other strategic bidders, the people said.

Deliberations are ongoing and there’s no certainty they’ll lead to a sale, according to the people, who asked not to be identified discussing confidential information. Representatives for BC Partners and Rothschild declined to comment.

Aenova provides product development and manufacturing services to pharmaceutical and consumer health care companies in 15 countries including Germany, Switzerland and Italy. It reported revenue of 726 million euros and a net loss of 53 million euros in 2019, according to its website. BC Partners acquired the business in 2012 in a 480 million-euro deal.

Any sale would add to $64 billion of deals involving European health-care companies this year, according to data compiled by Bloomberg. That’s up 439% on the same point in 2020. BC Partners is also considering a sale of European generic drugmaker Pharmathen, which could be valued at as much as 1.5 billion euros, Bloomberg News has reported.

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