SK Capital Creates new CDMO from Seqens and Wavelength
Private equity group SK Capital Partners has completed the acquisition of a majority stake in French firm Seqens, at the same time merging portfolio company Wavelength Pharmaceuticals into Seqens to create a leading pharma CDMO with annual revenues of €1.1 billion. The size of SK Capital’s stake was not disclosed.
Seqens said it has emerged “stronger and more focused” as a result of the merger. The combined group now has 24 industrial sites, 10 R&D centers and 3,200 employees worldwide, offering more than 200 APIs and 500 pharmaceutical intermediates, as well as key specialty ingredients and chemicals.
Pierre Luzeau, president of Seqens, said the company will now accelerate the projects launched in recent months and further strengthen its position to support customers worldwide in developing their projects.
Alongside SK Capital, Bpifrance and Nov Santé have also invested in Seqens, with historical minority shareholders Mérieux Equity Partners, Ardian and Eximium also reinvesting in the Écully-headquartered company.
Together with the new investment and merger, Seqens has also sold its non-core mineral specialties activities. These include sodium bicarbonate, soda ash and sodium silicate production plants in Laneuveville-devant-Nancy and Nogent l’Artaud in France, and Jurong Island in Singapore, all of which will remain under the control of former Seqens shareholder Eurazeo and other of the French firm’s historical shareholders.
Eurazeo announced on Aug. 26 that it had entered discussions to sells its stake in Seqens to SK Capital, expecting to close the deal by the end of 2021.
Author: Elaine Burridge, Freelance Journalsit
