DURHAM, N.C., June 1, 2018 /PRNewswire/ -- Alcami
Corporation ("Alcami" or the "Company"), a leading provider of
fully-integrated custom end-to-end solutions for the pharmaceutical
and biotechnology industries, today announced it has reached an
agreement to be acquired by Madison Dearborn Partners, LLC (MDP).
MDP, a leading private equity firm based in Chicago, will acquire a majority ownership
position in Alcami from existing shareholder Ares Capital
Corporation (NASDAQ: ARCC) ("Ares Capital"). Alcami's management
team, led by Chief Executive Officer, President, and Chairman, Dr.
Stephan Kutzer, will continue to
guide the Company. The transaction is expected to be completed in
the third quarter of 2018, pending customary closing
conditions.
"The entire Alcami team is excited to further enhance and evolve
the small to mid-size pharma growth engine. As we enter our next
stage of progress as a leading global, clinically-focused and
fully-integrated contract development and manufacturing
organization (CDMO), we are proud to partner with MDP to expand our
talented employee base and further develop our capabilities.
There's no doubt we will continue to serve our clients with
dedication, innovative solutions, and our unique, flexible,
transparent, and proactive approach," said Dr. Kutzer. "MDP's
extensive experience and strong relationships in the health care
and life sciences sectors make them an ideal partner. Looking
forward, we will continue to be guided by prioritizing efficient,
rapid, and reliable development, while delivering the highest
quality and best customer experience in the industry."
Headquartered within Research Triangle
Park (RTP) in Durham, North
Carolina, with 10 locations across the globe, Alcami is a
world-class CDMO and the first company to provide a solution
tailored to small and mid-size pharmaceutical and biotechnology
companies. The Company provides fully-integrated end-to-end
outsourcing opportunities, which offer a faster pathway for
products through the clinic toward commercialization, as well as
individualized development, and manufacturing services. Alcami's
services include active pharmaceutical ingredient (API) development
and manufacturing, solid state chemistry, formulation development,
analytical development and testing services, drug product
manufacturing (oral solid dose and parenteral), and packaging and
stability services.
"We are excited to support Stephan, Alcami's world-class
management team, and its highly committed employee base," said
Tim Sullivan, a Managing Director
and Head of MDP's Health Care team. "They have a demonstrated
ability to grow organically, deliver outstanding customer service,
and respond to changing industry dynamics. They have recently
completed significant capital expenditure programs to add further
services and capabilities, and today the Company has a highly
diversified product portfolio with industry leading positions in
fast-growing market segments."
"This investment represents an attractive opportunity for us to
support and advance an end-to-end business model that we believe
uniquely serves the needs of a large and growing customer base,"
said Jason Shideler, a Director on
MDP's Health Care team. "We see a wide range of opportunities to
expand via organic growth and acquisition within Alcami's highly
fragmented market. We are excited to partner with Stephan and his
team and support the talented employees throughout the Alcami
organization."
As part of the transaction, Ares Capital is acting as lead debt
financing arranger, and is maintaining a minority equity position
in the Company.
William Blair & Company is
Alcami's exclusive financial advisor, while Barclays and Jefferies
LLC provided financial advice to MDP.
ABOUT ALCAMI
Alcami is a world-class fully integrated
end-to-end contract development and manufacturing organization
(CDMO) headquartered in North
Carolina, with executive offices in Durham and Wilmington. With approximately 1,000 employees
operating at 10 global locations, Alcami provides customizable and
innovative services to small and mid-size pharmaceutical and
biotechnology companies by offering individualized and integrated
services across multiple areas. We connect our clients with
innovative solutions for API development and manufacturing,
solid-state chemistry, formulation development, analytical
development and testing services, clinical and commercial finished
dosage form manufacturing (oral solid dose and parenteral),
packaging, and stability services. For more information, please
visit alcaminow.com.
ABOUT MADISON DEARBORN PARTNERS, LLC
Madison Dearborn
Partners, LLC (MDP), based in Chicago, is a leading private equity
investment firm in the United
States. Since MDP's formation in 1992, the firm has raised
seven funds with aggregate capital of approximately $23 billion and has completed approximately 130
investments. MDP is currently investing out of its most recent
fund, $4.4 billion MDCP Fund VII, in
businesses across a broad spectrum of industries, including health
care; basic industries; business and government software and
services; financial and transaction services; and telecom, media
and technology services. For more information, please visit
mdcp.com.
ABOUT ARES CAPITAL CORPORATION
Ares Capital is a
leading specialty finance company that provides one-stop debt and
equity financing solutions to U.S. middle market companies and
power generation projects. Ares Capital originates and invests in
senior secured loans, mezzanine debt and, to a lesser extent,
equity investments through its national direct origination
platform. Ares Capital's investment objective is to generate both
current income and capital appreciation through debt and equity
investments primarily in private companies. Ares Capital has
elected to be regulated as a business development company ("BDC")
and is the largest BDC by both market capitalization and total
assets. Ares Capital is externally managed by a subsidiary of Ares
Management, L.P. (NYSE: ARES), a publicly traded, leading global
alternative asset manager. For more information about Ares Capital
Corporation, visit www.arescapitalcorp.com. However, the contents
of such website are not and should not be deemed to be incorporated
by reference herein.
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SOURCE Alcami Corporation