Acquisition of Mumbai-based generic pharmaceutical business led by Platinum's Asia investment team
LOS ANGELES and MUMBAI, India, Aug. 29, 2024 /PRNewswire/ -- Platinum Equity announced today the acquisition of a controlling stake in Inventia Healthcare Limited's core Oral Solid Dosage ("OSD") business ("Inventia") from India Life Sciences Fund III (Advised by InvAscent), NYLIM Jacob Ballas India Fund III, LLC, Mauritius and affiliates of the company's founding Shah family (collectively, the "Sellers").
The Shah family is retaining a minority stake in Inventia. Invengene and Nutriventia, the injectables and nutraceuticals businesses, respectively, are not part of the transaction and are being retained separately by the Shah family.
Financial terms of the acquisition were not disclosed.
"India's generics sector is well established with attractive long-term growth characteristics, and serves a key role in supplying the pharmaceuticals market globally," said Platinum Equity Co-President Jacob Kotzubei. "Inventia has built a differentiated B2B business that supplies both emerging and mature markets with high-quality products through its longstanding customer relationships and proven drug development and manufacturing capabilities. We intend to help Inventia build upon that strong foundation, expand its reach and further enhance the company's technology platform and delivery capabilities."
Headquartered in Mumbai, Inventia was jointly founded in 1985 by the company's late chairman and managing director Janak Shah and executive director Maya Shah. Today, Inventia serves as a partner to over 100 customers supplying both semi-finished and finished OSD formulations for both regular and value-added generics. Inventia's partners include global and leading local pharmaceuticals companies that sell in more than 40 countries across North America, South America, Europe, Southeast Asia, Middle East and Africa.
Inventia operates a manufacturing facility in Ambernath and a research and development facility in Thane in Maharashtra, India. The company's manufacturing platform is accredited by the U.S. FDA, U.K. MHRA and other Stringent Regulatory Authorities ("SRA").
"This investment marks a significant milestone in the journey of Inventia. As founders and long-standing stewards of the company, we are thrilled to see Platinum Equity's investment in our core OSD business," said Maya Shah and the late Janak Shah in a joint statement prior to Janak Shah's recent passing. "This partnership will harness Inventia's strengths and Platinum's operational expertise to propel us to new heights. We remain deeply committed to our mission and are confident that this collaboration will drive further innovation and growth. Our vision for Inventia has always been to provide high-quality, accessible pharmaceutical products, and with Platinum Equity, we believe this vision will only grow stronger."