Gómez-Acebo & Pombo advised the Irish company Altan Pharma on its acquisition of the Spain-headquartered GES Group.
The deal for GES Group – which develops, manufactures and markets injectable drugs – was valued at €88m, according to Mergermarket.
GES Group – which was advised by Deloitte Legal on the deal – has been providing the Spanish hospital market with injectable drugs since 1985. The global generic sterile injectables market is projected to grow from $37bn in 2013 to $70bn in 2020.
“GES is a highly respected leader in the specialty pharmaceutical segment with a reputation for supplying quality, injectable products,” said Guillermo Herrera, chairman and chief executive officer of Altan.”GES’ manufacturing expertise and international distribution network provide an attractive foundation for building Altan’s global specialty pharmaceutical business.”
Malin Plc provided an equity investment of €34.5m and Altan also raised debt financing and additional equity financing for the transaction. Banco Sabadell provided the debt financing.