Pharma Nobis, LLC Completes Acquisition of Fagron’s Contract Manufacturing Business and Manufacturing Facility, Names Todd Daviau CEO
NEW YORK--(BUSINESS WIRE)--An investment consortium led by Signet Healthcare Partners, Bionpharma, Inc and GMS Capital Partners LLC today announced it has formed Pharma Nobis, LLC (the “Company”) to acquire Fagron’s US contract manufacturing business. This business unit, operating from a manufacturing facility in Texarkana, Texas, provides contract manufacturing and private label services for consumer healthcare companies and retailers in the United States. Fagron will retain a 20% interest in the Company. Todd Daviau, co-founder and former President & CEO of CoreRx, a leading pharmaceutical contract development and manufacturing company, was named CEO of Pharma Nobis.
James Gale, Managing Director at Signet Healthcare Partners, noted, “We are enthused about the opportunity to invest in this business. Fagron has developed an outstanding company with a reputation as a cost-competitive manufacturer with a high service rating. We and our equity partners will seek to build on this capability and support the Pharma Nobis management team in growing their business.”
Todd Daviau commented, “I appreciate the opportunity to work with the Signet investment team again and am excited about this opportunity to take Pharma Nobis to the next level in personal care manufacturing. We will seek to serve our customer base through reliable service and innovation.”
Concurrent with the acquisition, the Company announced that James Gale, Dr. Theron Odlaug, Yezan Haddadin, and Andrew Pulido will join its Board of Directors, along with Todd Daviau. Dr. Odlaug is an experienced pharmaceutical executive and Signet Venture Partner. Yezan Haddadin is the CEO of GMS Capital Partners LLC. Andrew Pulido is the President of Fagron North America.
Troutman Pepper acted as legal counsel for the acquiring syndicate.
About Signet Healthcare Partners
Signet Healthcare Partners (“Signet”) is an established provider of growth capital to innovative healthcare companies. Signet invests in commercial-stage healthcare companies that are revenue generating or preparing for commercial launch. The firm’s focus has primarily been on the pharmaceutical sector and medical technology companies. Signet maintains a disciplined, yet flexible investment approach. As an active investor, Signet partners closely with its companies to build their value including facilitating activities between portfolio companies. During Signet’s 23-year history, it has developed a strong reputation and track record of successful investments. Signet has raised four funds with total capital commitments of over $400 million and has invested in more than 50 companies. For more information, visit www.signethealthcarepartners.com.
About GMS Capital Partners
GMS Capital Partners LLC is an investment management firm focused on sourcing, arranging and making investments across different asset classes, including private equity, venture capital, real estate and other alternative asset classes. Established in 2017, the firm is incorporated in Delaware and manages investments on behalf of its parent company, GMS Holdings. For more information, visit www.gmscap.com.
Bionpharma is a vibrant and fast growing generic pharmaceutical company with a strong commercial portfolio and a pipeline of generic products in the United States. With offices in Princeton, NJ, and Raleigh, North Carolina Bionpharma is one of the largest suppliers of Softgel capsules in the United States with a presence in the prescription and OTC segments of the market. Bionpharma’s focus is on R&D – to develop and commercialize affordable generics through building strong and effective partnerships. More information about Bionpharma Inc. can be found at www.bionpharma.com.
Fagron is a leading global company active in pharmaceutical compounding, focusing on delivering personalized medicine to hospitals, pharmacies, clinics, and patients in 35 countries around the world.
Belgian company Fagron NV has its registered office in Nazareth and is listed on Euronext Brussels and Euronext Amsterdam under the ticker symbol ‘FAGR.’ Fagron’s operational activities are managed by the Dutch company Fagron BV, which is headquartered in Rotterdam. For more information, visit https://fagron.us/.