Samfara, a London-based European life sciences investment firm, has completed the acquisition of Denmark-based Chr Olesen Synthesis from Chr Olesen and funds managed by Signet Healthcare Partners. CEO Thomas Moestrup is investing alongside Samfara.
Financial terms of the transaction were not disclosed.
Chr Olesen Synthesis develops and manufactures APIs and advanced intermediates, specialising in controlled substances, within opioid (morphine, thebaine) and amphetamine based chemistry. Its primary product groups are those used to treat opioid use disorder (buprenorphine) and ADHD (lisdexamfetamine). Within amphetamines it is the only company to have a CEP for dexamphetamine sulphate and is also expanding into other amphetamines. Its cGMP-certified plant has been in commercial production since 2015 and supplies pharmaceutical companies across Europe, North America and the Middle East.
“Chr Olesen holds a strong position and an excellent reputation in a demanding part of the pharmaceutical market,” said Helena Malchione and James Cocker, partners of Samfara. “We look forward to working with Moestrup and the team as they grow with existing customers and expand into new markets, both organically and through acquisitions.”
With Samfara’s backing, Chr Olesen Synthesis will continue to develop its capabilities, build on its existing customers and products and expand into new markets. Jean-François Hilaire, former CEO of Unither and former EVP at Recipharm, who advised Samfara on the acquisition, will join the board of Chr Olesen Synthesis as chair.
Chr Olesen acquired Chr Olesen Synthesis in 2011 and, together with Signet Healthcare – which invested in 2015, the firm has become a significant player in controlled-substance APIs.
“The time is right for new owners to take the business forward,” said Mads C Olesen, CEO and owner of Chr Olesen. “We are confident that we have entrusted the company to the right new owner”
Samfara was advised by Addleshaw Goddard (legal, UK), Connaught (capital formation), infotransactions (financial and tax due diligence), Lockton (W&I insurance), Nivaro Law (legal, Denmark) and RSM (tax structuring).
Chr Olesen and Signet Healthcare Partners were advised by LEK (commercial), Moalem Weitemeyer (legal), Nielsen Nørager (legal), PwC (financial and tax), Sheppard, Mullin, Richter & Hampton (legal), and Stifel (M&A).
