Colorcon to Acquire Healthcare Packaging Firm Airnov
Colorcon, a US-based globally active manufacturer of pharmaceutical film coatings and specialty excipients, has signed a Put agreement to purchase Airnov Healthcare Packaging from compatriot private equity firm Arsenal Capital Partners.
The company headquartered at Harleysville, Pennsylvania, said the transaction, which is subject to French works council review as well as regulatory approvals, could close during the current first quarter.
Based in France’s Loire valley, Airnov provides critical healthcare industries with high-quality, controlled atmosphere packaging designed to protect products from moisture and oxygen.
With a portfolio including customizable, high quality drop-in products (canisters and packets), integrated desiccant systems and specially designed plastic bottles containing oxygen barrier materials, the business with manufacturing facilities in the US, France, China and India employs around 700 people.
Colorcon CEO Simon Tasker said the proposed acquisition “presents a good match for our companies, as a key strength of Colorcon is the breadth of customer relationships across the pharmaceutical industry, including contacts at all levels in R&D, supply chain, and procurement.”
Tasker said the two portfolios are complementary, and a deal would offer synergies in terms of technical, customer and regulatory support to accelerate customers’ product development and commercialization, in particular as regards speed to market.
Matthias Brommer, president and managing director of Airnov, said that being acquired by Colorcon ownership would bring improved geographic coverage to the company and provide added value for its customers through its pharma focus and complementary product portfolio.
Author: Dede Williams, Freelance Journalist
