Advent International Corporation was advised by KPMG Abogados on the sale of Spanish pharmaceutical contract development and manufacturing organisation Alcala Farma to Groupe Synerlab.
Alcala Farma, which has annual sales of €25 million, manufactures pharmaceutical drugs that come in multiple dosage forms, including injectable, oral and topical products.
French headquartered Synerlab was advised by CMS on the deal, according to Mergermarket data.
Synerlab has annual sales of almost €110m and has more than 700 employees located in five production sites in France.
A Synerlab statement said the acquisition of Alcala Farma – which was financed by Synerlab shareholders 21 Partners and Ardian – is expected to increase the group’s revenue base by more than 20 per cent, with the proportion of sales outside France rising from 30 per cent to 45 per cent.