Auctus Management bolts on drug company to PharmaZell(2)

Swiss pharmaceuticals company Novartis has sold GEA Pharmaceuticals to Auctus Management, as the first step in its buy and build strategy for drug producer PharmaZell.

Auctus Management, a mid-market German buyout firm, has bolted-on GEA Pharmaceuticals to PharmaZell, having bought the pharmeutical company from Sandoz, a Novartis company, for an undisclosed sum.

The research organisation BDD group has also taken a minority stake in the company.  GEA had sales of between €10 million and 20 million last year and it has 80 employees. 

GEA mass develops patented and generic pharmaceutical drugs for large scale distribution as well as providing smaller scale samples for testing. The company also researches processes to develop drugs on a large scale. It also designs coatings for drugs that target cures to parts of the body.

Nicolas Himmelmann, partner at Auctus, said: “This our first add-on for PharmaZell, there will be others to come.”

PharmaZell was spun off from speciality chemicals company Lubrizol in 2006 through a management buy-out by Auctus.

Auctus operates in the German mid-market. It has bought three other companies in the last half, plastics company Abieta, from Clariant, as well as AS Electronics and International Private University in Bad Honnef, both bought from individuals.