Sentinel Capital sells WellSpring Pharma Services to ANI

U.S. private equity firm Sentinel Capital Partners has sold WellSpring Pharma Services Inc, an Oakville, Ontario-based pharmaceutical contract manufacturing organization operating across North America. Terms weren't disclosed; however, U.S. specialty pharmaceutical company ANI Pharmaceuticals Inc (Nasdaq: ANIP) said in a release it bought Wellspring for US$18 million in cash. Sentinel acquired WellSpring in 2011. Ancor Capital Partners also invested. Over the investment period, Sentinel said the company sharpened its focus through divestitures and add-on deals. WellSpring's consumer healthcare business was sold last year to Audax Private Equity.

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