CVC Credit is pleased to announce that it has co-arranged the unitranche debt facilities, featuring an ESG margin ratchet, to support Partners Group’s acquisition (on behalf of its clients) of Pharmathen, a leading European pharmaceutical company, which closed on 20 January 2022. CVC Credit will support the continuing growth strategy of the business through its European Direct Lending Strategy, which focuses on lending to established European medium and large companies with proven business models.

Founded in 1969, Pharmathen is a leading contract development and manufacturing organization (“CDMO”) specialized in advanced drug delivery technologies for complex generic pharmaceutical products. With best-in-class research and development (“R&D”) expertise, the company is a specialist in “sustained release” technologies that improve patient compliance and have led to a broad portfolio of products ranging from slow-releasing oral medicines, ophthalmics, to innovative long-acting injectables. Pharmathen’s differentiated business-to-business model serves a blue-chip customer base of more than 215 generic pharmaceutical companies from two manufacturing facilities in Greece. The company’s highly diversified product portfolio of c.80 commercialized products are supplied to patients in more than 85 countries worldwide.

Miguel Toney, Partner at CVC Credit, commented: “CVC Group’s network was invaluable to our work on Pharmathen’s financing. Notably, the private equity healthcare and local teams’ experience and insight of the market confirmed Pharmathen’s credentials as an industry-leading provider with an R&D-led approach and an unmatched first-to-market track record. We are pleased to support Partners Group and Pharmathen’s high quality management team to execute the company’s exciting growth plans.”