Samfara, a European life sciences investment firm, announced that it has completed the acquisition of Chr. Olesen Synthesis from Chr. Olesen and funds managed by Signet Healthcare Partners. Chief Executive Thomas Moestrup is investing alongside Samfara. Financial terms of the transaction were not disclosed.

Based near Copenhagen, Chr. Olesen Synthesis develops and manufactures active pharmaceutical ingredients (APIs) and advanced intermediates, specialising in controlled substances, in particular those used to treat opioid use disorder (buprenorphine) and ADHD (lisdexamfetamine). Its cGMP-certified plant has been in commercial production since 2015 and supplies pharmaceutical companies across Europe, North America and the Middle East. The business combines technical expertise and a high level of flexibility in serving pharmaceutical customers across its markets.

With Samfara's backing, Chr. Olesen Synthesis will continue to develop its capabilities, build on its existing customers and products and expand into new markets. Jean-François Hilaire, former CEO of Unither and former EVP at Recipharm, who advised Samfara on the acquisition, will join the board of Chr. Olesen Synthesis as Chair.

Helena Malchione and James Cocker, Partners of Samfara, said:

"Chr. Olesen Synthesis illustrates our strategy of finding winning companies in complex niches and backing them with capital and strategic support. It holds a strong position and an excellent reputation in a demanding part of the pharmaceutical market, and we look forward to working with Thomas and the team as they grow with existing customers and expand into new markets, both organically and through acquisitions."

Thomas Moestrup, Chief Executive of Chr. Olesen Synthesis, said: 

"This is an exciting next step for Chr. Olesen Synthesis. With Samfara as our new owner, we have a partner who shares our ambitions and will support the continued development of the business. We look forward to building on our strong customer relationships, expanding the business and developing the opportunities ahead of us."

Mads C. Olesen, Chief Executive and owner of Chr. Olesen, said: 

"In 2011, Chr. Olesen acquired Chr. Olesen Synthesis and, together with Signet Healthcare, has built it into a significant player in controlled-substance APIs. The time is right for new owners to take the business forward, and we are confident that we have entrusted the company to the right new owner. We extend our best wishes to Samfara and the management team of the company."

ADVISERS

Samfara was advised by Addleshaw Goddard (legal, UK), Connaught (capital formation), infotransactions (financial and tax due diligence), Lockton (W&I insurance), Nivaro Law (legal, Denmark) and RSM (tax structuring).

Chr. Olesen and Signet Healthcare Partners were advised by LEK (commercial), Moalem Weitemeyer (legal), Nielsen Nørager (legal), PwC (financial and tax), Sheppard, Mullin, Richter & Hampton (legal), and Stifel (M&A).