BC Partners to buy German generic drugs maker Aenova for $618 mn

Private equity firm BC Partners yesterday agreed to buy German vitamins and generic prescription drugs maker Aenova from Bridgepoint, in a reportedly €500-million ($618 million) cash and stock deal.

Bridgepoint had earlier this year hired Morgan Stanley to conduct a sale and was reportedly looking to rake in more than more than €400 million.

London-based BC Partners is paying €245 million through equity and the rest in cash that is being arranged by JPMorgan Chase & Co, according to a report from Deal Pipeline.

Bridgepoint, which focuses on acquiring leading middle market businesses valued up to €1 billion, had in 2008 merged its 2005 acquisition of Swiss Caps – Europe's second-largest contract soft capsule manufacturer of vitamins, minerals and supplements with its 2007 acquisition of Dragenopharm Apotheker, a German generic prescription drugs contract manufacturer to create Aenova.

The merger created Europe's largest contract generic prescription drugs maker by revenue.

Munich-based Aenova makes vitamins and generic prescription drugs in solid dosage forms such as soft and hard capsules, tablets, film-coated tablets and effervescent tablets.