Procuritas Capital Investors IV LP acquires Farma Holding AS
Press release, Guernsey/Stockholm
PCI IV, together with the management team, acquires Farma Holding AS, a leading Norwegian supplier of pharmaceutical products and services to pharmacy chains, hospitals and the pharmaceutical industry.
The acquisition will take place through a newly established Norwegian holding company.
“We are very pleased about this investment” said Hans Wikse, Partner at Procuritas AB, advisor to PCI IV. “Under the current management team Farma Holding has grown to become a leading player in the Norwegian market and positioned itself to take advantage of the development on the Swedish and other export markets. The developments within the Nordic pharmacy markets provide a number of attractive opportunities for Farma Holding”.
The current Chairman of Farma Holding AS, Ralph Høibakk says: “It is good that a new owner now takes responsibility for the further development of the company. Farma Holding has growth opportunities that require access to more capital and management support than the current owners can contribute. This deal is good for customers, employees and other business partners”.
CEO Frode Lervik added “The Farma management team is excited about getting PCI IV in as a majority shareholder. The new owners share our Nordic growth aspirations and development objectives and will strengthen our financial position enabling us to reach our goals faster.”
About Farma Holding
Farma Holding group was founded in 1994 as one of several parallel import companies for pharmaceuticals and pharmacy products in Norway. Following the deregulation of the Norwegian pharmacy market in 2002, the company managed to position itself as a clear market leader. The company gradually broadened its business to diversify into branded products as well as supply of raw materials and services to the pharmaceutical industry and the pharmacies. The subsidiary Farma Helse was established in 2007, setting the foundation for branded products and with the acquisition of Apoteksproduksjon in 2008, Farma Holding established itself as a leading supplier of tested and controlled pharmaceutical raw materials to Norwegian pharmacies. This acquisition lifted the Raw Materials and Services division to a new level and set the foundation of the Farma Holding seen today; a company with around 60 employees and a turnover of c. 300 MNOK.
More information about Farma Holding can be found on www.farma-holding.com.
About Procuritas
Procuritas Capital Investors IV is a private equity fund focusing on mid-sized companies in the Nordic Region. Farma Holding is the ninth investment by PCI IV, and its third in Norway. PCI IV is advised by Procuritas AB and Procuritas Partners GmbH. Procuritas is specialized in initiating, structuring, and financing management buyouts. Founded in 1986, the company was the pioneer in introducing the concept of management buyouts in the Nordic region.
For further information, please contact:
Hans Wikse, Managing Partner, Procuritas AB, as advisor to PCI IV
tel. +46 708 61 23 77
Erik Fougner, Board Member, Procuritas Capital Investors IV GP
tel. +46 702 66 31 11 / +41 79 88 75 4 74
Frode Lervik, CEO, Farma Holding AS, tel. +47 91 13 98 65