Active Component has attracted a minority financial investor to the company
Elbrus Capital II, a private equity fund, has announced investment in Active Component.
As Pharmvestnik learnt, negotiations were conducted during a year. The transaction was finally closed in August of this year. According to the independent source FV, the total investment in Active Component amounts to $ 20 million while the controlling sharepackage remains with the founders of the company.
Alexander Semenov, president of Active Component, said in an interview for FV: "At the moment, the company performs several tasks at the same time: we invest money in the development of new products ( the R & D department launches 8-10 new substances within a year); we build a new production facility in Pushkino and purchase equipment for existing ones, as well as increase our investments in operating capital. In connection with these factors, it was decided to attract a minority financial investor. "
With the help of Novus Capital financial consultants, existing investment funds were monitored. According to Alexander Semenov , the company received a lot of proposals.
The choice turned nextto Elbrus Capital II, because colleagues in this fund think in the same business terms as we do. Our new partners are primarily focused on the commercial side of the project, and our strategic goals are identical, -he added.
It is known that the due diligence process involved an Ernst & Young auditor and an international company IQVIA was engaged in commercial audit.
Partners do not disclose the deal value, however, according to an independent source FV, the issue is selling about 1/3 of the company's shares and investments in the amount of 20 mln doll. Investments have no mandatory purpose and are not tied to the strict obligation to purchase only equipment or finance construction. As Alexander Semenov explained, part of the funds will be spent on new projects of R & D department.
It is known that the Elbrus Capital II fund was launched by Elbrus Capital . The company targets Russia and the CIS and manages assets of over 1 bln doll. Elbrus Capital funds invest in portfolio companies, including HeadHunter, CIAN Group, PickPoint, OSG Records Management, and others. Accession to Active Component is the first investment of the fund in the Russian pharmaceutical industry.
"We highly appreciate the prospects for the development of the sector of pharmaceutical substitutes in Russia. The long-term tendency to localize LP production in Russia contributes to the growth of demand for Russian production substances. We see the industry leader in the Active Component company, and we are ready to provide maximum support to the founders, the management team in implementing the strategy of further growth of the company, "- Alexander Savin, Senior Partner at Elbrus Capital, commented on the deal.
Alexander Semenov emphasized that it is important to understand: we have raised foreign finance. Considering a not-so-favorable political situation which results in a new set of sanctions, the fact that foreign investors are not afraid to invest in Russia's specialized pharmaceutical production is a good sign for the entire industry.
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